Energy shortage is not the only challenge being faced by the country but bureaucratic hurdles and menace of corruption are also hampering the economic trade and activities. The new government will have to evolve a multi-prong policy to overcome the issues impeding the national growth. Pakistan Industrial and Traders Association Front (PIAF) Chairman, Malik Tahir Javed stated this while speaking at a meeting here on Monday.
He said that discourteous attitude of bureaucracy was one of the biggest reasons of decline in foreign and local investment. He said that most terrible energy crisis of the history has isolated the industrial activities. He said that ongoing situation was not conducive to the business and denting the overall economy to the maximum because of energy crisis, high mark-up and deteriorated law and order situation. He said that to attract new foreign investment, the government should not only motivate the commercial section of Pakistani missions abroad but it should also give incentives to the Large Scale Manufacturing sector that has the ability to initiate joint ventures with the counterparts in foreign countries.
Chairman PIAF said there was no dearth of resources in Pakistan as its products were best in the world and was suffering only because of non-availability of any national marketing strategy. He said that catastrophe-hit business community has attached high hopes with the PML-N government and hoped it would not only solve the issues on war footing but would also take business community into confidence on all economic related plans so that businessmen could be able to do their businesses with a new vigor.