Speakers suggest integrating private sector with PSDP as a step forward to industry

ISLAMABAD: Member, Private Sector Development, Planning Commission, Asim Saeed said that “Ministry of Planning, Development and Special Initiatives is the investment arm of the government and is keen to align private sector demands in PSDP.

This was stated in a press release issued on Wednesday, however, to do the needful, private sector would have to be forthcoming so that its demands-based proposals may get incorporated in the PSDP through relevant ministries.

Asim expressed these views in “Industry and Enterprise Sub-Committee” meeting of National Advisory Committee of Planning Commission that met under the convenorship of Dr. Abid Qaiyum Suleri, head of Sustainable Development Policy Institute.

Chairperson Competition Commission of Pakistan (CCP), Rahat Kaunain Hassan endorsing the importance of a mapping exercise to find out private sector’s need, highlighted that CCP has not received any report of any industry being non-competitive due to COVID19. “This shows the resilience in our industrial sector”, she added.

Dr. Suleri, earlier highlighted that a better coordination and cooperation between the public and private sector is need of the hour to resolve various issues being faced by the private sector. “The sub-committee is one such forum that may serve as a bridge between both sectors. This bridging is critically important, especially to foster trade and business activities after COVID19”, explained Dr Suleri.

Representatives of different industrial sectors including leather industry, retail-chain stores, pharmaceutical, surgical instruments, automotive parts, and services sector showed optimism that their business activities were getting normalized after first wave of COVID19.

Asfandyar, Managing Director, Hub Leather opined that due to the quick reopening of the lockdowns, the leather sector, especially the retail side is showing improvement. However, several challenges persist on the demand side. He highlighted the need of focusing on the retail side of the industry.

Ashraf Malik, CEO Unique Medical System, was of view that after the second wave of COVID19 in the EU and USA, they have been facing lowering demands from these regions. Eng. M.A Jabbar Chief Executive, Qaim Automotive, highlighted the need to provide SMEs, the type of incentives and stimulus package at par with the Large-Scale Industries.

While , representing the Faisalabad Industrial Estate Development and Management Company (FIEDMC), Rabia Zia and Amir Saleemi said that timely provision of gas and electricity along with other infrastructure can give an impetus to the industries.

Private sector representatives unanimously demanded an amnesty scheme for manufacturing and industrial sector in lines with construction sector amnesty package. They were of the opinion that a conditional amnesty to invest in industrial and manufacturing projects would boost Pakistan’s growth manifolds.