The business community of Southern Punjab unconditionally supports the privatisation policy of the Government describing it a right step in right direction. They said that it was a right decision of the government to sell Pakistan International Airline (PIA) or induction of strategic partner, Pakistan Steel Mills (PSM) and power distribution companies (DISCOs), which is in the best national interest.
President of Multan Chamber of Commerce & Industry (MCCI) Fareed Mughis A Sheikh said that PIA and PSM have become great threats to the national economy and impact of these bleeding enterprises can be as devastating as the circular debt. Opposition should not have tried to use the issue of PIA to meet political ends as it amounts to compromising national interests over petty political gains, which is unfortunate, he added. Butt said PIA is ten times less efficient as compare to other airlines that has translated into a loss of Rs 300 billion, which cannot be tolerated. He said that foreign exchange reserves were at $6 billion when the incumbent government took to the helm, which is now at $20 billion, adding that inflation was 8.3 percent in 2013 which is now at 3.3 percent while growth rate, large scale manufacturing and private sector credit is picking up. He said that the incumbent government has improved the economic situation of the country, which has bolstered the confidence of investors.
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