‘Industrial growth vital to country’s development’

KARACHI: Industrial growth is vital for the country’s development, said Imran Khan, chairman of Pakistan Tehrik-e-Insaf, on Wednesday.

Addressing at the Korangi Association of Trade and Industry (Kati), he said trade and industry play major role in economic growth, adding that unemployment is increasing in the country and it could only be curtailed through facilitating the manufacturing sector.

Mahathir Mohamad and Tayyip Erdogan have brought economic revolution to their countries during the past few decades, but in contrast Pakistan, which witnessed massive growth in 1960’s, is now far behind, he added.

Khan said that Pakistan needs continuity in policies to achieve growth. “Short-term economic arrangements are the major cause of instability,” he added. Police reforms brought in Khyber-Pakhtunkhwa yielded positive results and crime rate has dropped 70 percent, he said.

Talking about the recent exchange rate fluctuation, the PTI chairman said the dollar is strengthening, and imports are also increasing. Talking about corruption in the country, he said around $10 billion laundered abroad every year from Pakistan. He said he is surprised the National Assembly has never debated money laundering.

Karachi is the financial and commercial hub of the country and peace in the city will ensure stability in the country, he said and lamented the politics of Karachi and said it should be improved.

After coming into power, the PTI will support genuine traders and industrialists, he said, and emphasised on FATA affiliation with KP for 2018 general elections. If it is not done, then it would delay until 2023. Earlier, former Kati president Rashid Siddiqui said PTI obtained peoples’ confidence, but unfortunately, it has also failed to deliver.