Govt turning to private sector for additional source of funding

KARACHI: Federal Minister for Ports and Shipping Ali Haider Zaidi has underlined the importance of public-private partnership, as due to constraints in public resources, the government is increasingly turning to the private sector for additional funding to meet fiscal gaps.

“Masses should not keep hopes high as the government has no money and government alone cannot help it. Private sector should come forward and help the government,” Ali Zaidi said at the Annual Dinner 2018 of the Korangi Association of Trade and Industry (KATI) over the weekend.

The minister said industrial sector had great potential but the previous governments did not pay attention to supporting and facilitating industries. He also criticised the inconsistent policies in the past, which hampered industrial growth and jolted the confidence of local as well as foreign investors.

The minister stressed on the need of automation of government departments and shared his plans to move to a paperless environment, which would save cost, expedite the processing of official files and discourage corruption.

“I have informed the departments and divisions under the Ministry of Ports and Shipping that I would not sign any of those traditional blue files after six months,” Zaidi added. Zaidi said they knew the problems facing Karachi, including scarcity of water, electricity and law and order, and urged the Sindh government to depoliticise the police as the first step towards improving the security situation of the city, which still was braving high ratio of crimes.

“We have inherited a lot of problems, primarily the corrupt and inefficient bureaucracy. However, we are committed to serve the country and we are moving in the right direction,” he added.

Patron-in-chief of Korangi Association of Trade and Industry SM Muneer said KATI was the largest industrial association of Pakistan. He congratulated the newly elected governing body of the association and expressed hope that the association would continue to serve industries as a responsible corporate citizen.

Senator Haseeb Khan sharply criticised the interest rate hike by the central bank, and said this would have an adverse impact on industries. President KATI Tariq Malik said the business community was not being provided a level playing field. He urged the government to rationalise the rate of utilities, as cost of doing business in Pakistan, particularly Karachi, was much higher as compared to the competitors.

He also spoke about the role of KATI in facilitating the industries, and apprised the minister of the problems and issues facing the industrial area. Former president Korangi Association of Trade and Industry Zubair Chahya said KATI had become the most significant trade association in the country.

Chahya sharply criticised the government’s decision to incentivise the non-filers. “If non-filers are to be favoured the same way, I propose a law enabling filers to turn non-filers because they are really enjoying,” Chahya added. The Annual dinner 2018 hosted by Korangi Association of Trade and Industry was attended by diplomats, government functionaries and a large number of business leaders.