PM Khan terms industrial development 'vital' for state's economic growth

Shaukat Tareen, NDMA Chairman Lt Gen Mohammad Afzal and other senior officials attended the meeting.

(Web Desk) – Prime Minister Imran Khan on Monday chaired a meeting of his economic team and emphasised that industrial development was vital for economic growth and job creation.

The meeting was attended by Minister for Economic Affairs Hammad Azhar, Minister for Planning and Development Makhdoom Khusro Bakhtiar, Minister for Power Omar Ayub Khan, PM’s advisers Dr Abdul Hafeez Shaikh, Abdul Razak Dawood and Dr Ishrat Hussain, PM’s special assistants Dr Sania Nishtar, Dr Firdous Ashiq Awan, Nadeem Babar and Yousaf Baig Mirza and Board of Investment Chairman Syed Zubair Haider Gillani.

Shaukat Tareen, National Disaster Management Authority Chairman Lt Gen Mohammad Afzal and other senior government officials were also present.

The meeting was briefed on outcomes of the steps being taken by the government for sustainable growth and economic consolidation, increasing productivity, ease of doing business and protection of the existing and prospective investors.

Other important issues discussed during the meeting included poverty alleviation, infrastructure and communication development, revitalising and mobilising ‘the dead investment’, disaster management and improved coordination among the concerned ministries and divisions for smooth and timely implementation of the projects.

The meeting was also briefed on the investment in the Small and Medium Enterprises (SMEs) and the construction sector.

“Focus must be made on those projects that yield high productivity while removing the hindrances in their way simultaneously,” the prime minister said, adding that without giving protection to the business community, economy could not flourish. “We must raise confidence of the business community for increased investment in all sectors.”

The prime minister directed that all the poor strata of society be included in the Ehsaas programme, such as chronically poor, extremely poor and marginalised poor segments.

The meeting was informed about the importance of inclusion of women for balanced economic development of the country. “Women should be given incentives and facilitation for their contribution in the socio-economic development,” the prime minister added.

The special assistant on information, while citing the Malaysian model of growth, said that empowerment of women and facilitation would contribute significantly to socio-economic growth of Pakistan.

The NDMA chairman briefed the meeting on proposals regarding communication and infrastructure development and mobilisation of dead investment for reaping investment benefits in the short term. He also proposed the creation of Disaster Risk Financing in the wake of frequent natural disasters and shortage of funds earmarked currently to respond in case of any eventuality.

The meeting was also briefed on the proposed lease plan of the Pakistan Steel Mills and the interest shown by the Russian and Chinese companies.

The prime minister directed the authorities concerned to come up with a comprehensive plan regarding the proposed lease of PSM at a separate meeting at the earliest.

Importantly, the Pakistan Tehreek-e-Insaf (PTI) has announced that PM Khan Khan would address a public gathering in Skurdu on Oct 4 to give a roadmap for development in Gilgit-Baltistan.