Development through private sector

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CHAIRING a meeting in Islamabad on Monday, Prime Minister Imran Khan stressed upon active participation of the private sector in the country’s development process and said government was fully committed to providing conducive environment to it.

Indeed if the government really wants to take the country towards higher growth, it will have to take along the private sector to execute mega development projects.

This public private partnership model has remained very successful in the European countries including in our neighbourhood.

The fact of the matter is that the governments cannot execute all the development projects from its own kitty.

It is also not possible to put the development on the backburner as it only worsens the economic situation.

In this context, the very conceptualization of innovative idea of PSDP Plus on the part of PTI government to involve the private sector in the development process is a step in the right direction. Under this strategy, 180 different areas have been identified with estimated worth of Rs 5.5 trillion.

The PSD Plus plan includes projects in shipping and maritime, aviation, logistics, IT, infrastructure, social sector, energy, real estate and tourism sector.

Various projects included in this roadmap either need no investment or just little financing from the government.

We have no doubt in saying that if these projects are executed and completed within the given timeframe, these have the potential of changing the entire economic landscape of the country in a matter of a few years and take the country towards higher economic growth where our youth will have immense job opportunities.

Since the focus of government has shifted from stabilizing measures to development, there should be no wastage of time in the approval of these development projects.

Fast tracking them will bring a visible change in the life of the people and also help the PTI to fulfil the promises it made with the people during electioneering.

As the government is pursuing pro-business policies and providing it an enabling environment, it is also for the private sector to come forward in a big way to fulfil its potential to become driver of growth.