Karachi, February 19, 2022 (PPI-OT):Revival of sick industries is necessary to give a boost to our sagging economy, said Pasban Democratic Party PDP Chairman Altaf Shakoor in a statement here Saturday. He said non-performing state-owned entities are wasting billions of rupees of the taxpayers’ money which is a huge leakage of precious budgetary funds. He said besides there is a large number of other sick industries that are either closed down or running in losses due to various reasons.
He said a fool proof plan should be made to revive the sick industries including the SOEs to save precious funds on one hand and to spur our national economy on the other. Giving example of the largest steel making unit in the country, Pakistan Steel Mills, he said corrupt political governments deliberately ruined this profit-giving industrial complex to complete the agenda of vested interests.
He said if the loss-making KESC could be salvaged and make a profit earning entity in the shape of the Karachi Electric (KE), the Pakistani Steel Mills could be revived under a professional management. He said real estate mafia of Pakistan wants to sell precious land of the PSM after its so-6 privatization for the peanuts. He said in fact it is not the job of governments to run business and industry, but if the government really wants to run the SOEs in profit, they should be run in a professional manner without involvement of party and political consideration. He said the revival of the PSM would give jobs to thousands of people, besides helping economy, as steel making in the mother of all industries.
He said we can’t fight joblessness without a fast paced industrialization. Altaf Shakoor said costly fuel and heavy taxation have broken the backbone of industry in Pakistan. He said the government it running economy on the dictation of the international lenders like IMF and World Bank and no any country in the world has ever improved it economy on the costly loans of these lenders that attach difficult terms and conditions to their loans now called pre actions.
He said there is a need to manage the PIA in a professional manner to end its huge losses. He said political appointments of unnecessary extra staff doomed both the Pakistan Steel Mills and PIA. He said like public service commission, there should be a professional body to monitor recruitment process in all state-owned entities.
Altaf Shakoor demanded to establish two industrial corridors along Karachi-Hyderabad (M9) motorway and Karachi-Keti Bunder highway on priority. He said if these industrial corridors are established they would create millions of new jobs besides reducing pressure of influx of economic migrants on already overcrowded megacity, Karachi.
For more information, contact:
Press Secretary,
Pasban Democratic Party (PDP)
Pasban Central Secretariat
Office # 9, Five Star Center,
Block 11, University Road, Opp. Ibne Sina Hospital,
Gulshan-e-Iqbal, Karachi
Tel: +92-21-34024480-81
Cell: +92-322-2212434
Email: pasban.ppick@gmail.com
Website: www.pasban.org