Business

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) on Monday unveiled its nine-point Industrial Policy, vowing to revive the industry by restoring confidence of investors and to create 10 million new jobs for youth by shifting the focus towards skill development of the people.

“Industry in Pakistan is in dire straits due to a crippling energy crisis, lack of access to finance and skill shortages, hence the PTI Industrial policy aims to build solid foundations for the revival of industry by creating 10 million new jobs for the youth over the next five years and to make the sector more violable and competitive in the international markets,” said PTI leader Asad Umar, while unveiling the PTI’s industrial policy.

Addressing the participants, PTI Chairman Imran Khan said that the country will no longer be in need of any foreign aid if voted to power as the main focus of the PTI would be on development of human development and to eradicate corruption from the country.

“Poverty has been increasing in the country due to rising corruption and the only solution to control inflation in the country is to eliminate corruption and to take action against those involved in corrupt practices.

We will ensure the supremacy of law after coming into power and PTI will not use the army against the public,” said PTI Chief, adding that poor law and order situation had compelled the investors to stop businesses in Pakistan. “How can the investor come in the country where cricketers are not ready to play,” argued Imran Khan.

He added that his party would also depoliticize the bureaucracy and would get rid of corruption culture as these had a direct link with the inflation and poverty.

“The country can be made richer by recovering public money from foreign countries which some corrupt leaders has kept in off-shore accounts there,”

he said, adding that such step would be taken by PTI as this can only be done by those who have all their assets in their own country.

He said just 90 days are required to maintain the rule of law in the country. “Only those who are corrupt themselves cannot remove corruption from the country in duration of 90 days,” he said while making it clear that all the policies and decisions announced by the PTI were doable.

He said that talent was present in Pakistan but lack of skills has hampered the progressive activities. “Our party’s main focus will be on the skill development so that the Pakistani people can perform their best not only for their own country but also in foreign countries,” said PTI chairman.

He said that the PTI has committed to eliminating the Electricity & Gas shortages within its first term in office by resolving Circular Debt through moving to lower cost generation and reduction of line losses.

“Fast-track gas import and ensure equitable rationing of resources until new gas supply arrives. Provinces will have to play their role in developing indigenous energy resources and making Pakistan an Energy Secure state,” added the PTI leader.

PTI senior leaders including Jahangir Khan Tareen, Naeem-ul-Haq, Ayla Malik, Dr Israr Shah and others were present on the occasion.

While announcing the policy, Dr Asad Umar said that the government needs to take proactive measures to boost investor confidence by effective measures, adding that the rent seeking and corruption needs to be checked and alternative dispute resolution mechanism developed to speed up contract enforcement.

“PTI Economic Policy has committed to reducing fiscal deficit to 4.5% of GDP, thus creating space for banks to lend to the industry & SMEs. We will set up specialized financial institutions to raise long term capital for industry by focusing on developing vibrant debt & capital markets to fund investment spending,” said PTI leader.

PTI will allocate land for special economic zones around every major urban center to develop industries based on natural resource endowment, he said.

He said that PTI Skills Development strategy aims to scale up technical skills enrollment to 2 million workers – from less than 0.3 million today.

“Technical skills for workers will not only boost individual income generation capacity but the productivity of the industry,” he added.

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