Bijarani explained that the draft would be unveiled to all stakeholders and its contents would also be posted online. The minister has been carrying out discussions with industrialists and business owners across the country in the run-up to the policy announcement.
“Policies are announced by the government but they can only be made successful by the stakeholders,” explained Bijarani. He assured that the coming policy would be based on the advice and recommendations of industry stakeholders and encouraged the private sector to continue providing feedback once the draft is posted online by the ministry.
The federal minister lamented that the dismal law and order situation along with shortage of electricity have severely hampered the growth of industries. He criticised previous governments for failing to plan sufficiently for the growing energy needs of the country and gave assurances that the current government has already mobilised all possible resources to resolve the energy crisis.
Bijarani also said that the sudden and ad hoc changes in policies have hurt businesses in the country and called for longer term planning that would be consistent with emerging business trends and changing patterns of demand, both domestically and internationally.
“Advice and feedback is being sought from nine chambers of commerce and industry among other stakeholders before finalising the Industrial Policy 2010,” said the Federal Secretary for Industries and Production, Dr Kamal Munir.
Addressing journalists at Karachi Chamber of Commerce and Industry on Monday, he called for changes in the banking and energy policies of the country to develop them into long-term plans.
He said frequently changing policies that often contradict previous plans of the government are counter-productive and discourage investment.
Munir commented that the country currently exports raw materials for many different industries and that if these inputs could be converted into finished products or put through some value addition processes, Pakistan would be able to reap much better profits from international trade.
Munir lamented that multinational companies have captured domestic markets because local industries have not been able to compete with them effectively.
He also advised lower import duties and subsidies for the import of machinery that could aid industrial production at a larger and more efficient scale.
The federal secretary added that sudden changes in the discount rate and the exorbitant interest rates being charged by banks are making it difficult for the private sector to plan for and obtain financing.
Published in The Express Tribune, August 3rd, 2010.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ