RAWALPINDI: DG ISPR took to the twitter to hold: “Sequel to discussions and seminars on Interplay of Economy and Security, a concluding session of stake holders hosted by COAS was held at Army Auditorium. Govt. economic team and businessmen of the country participated.”
COAS has stated: “National security is intimately linked to eco while prosperity is function of balance in security needs and economic growth. Aim of various discussions and seminars was to bring stake holders at one platform to formulate commendations for a synergistic way forward!”
Cynics go haywire wondering exactly what the two parties talked about:
The Government Team was comprised of Muhammad Hammad Azhar (Federal Minister for Economic Affairs); Syed Mohammad Shabbar Zaidi (Chairman Federal Board of Revenue); Abdul Hafeez Shaikh (Advisor to Prime Minister on Finance, Revenue and Economic Affairs).
In the Entrepreneurs Team, conspicuous among others, there were Sultan Ali Lakhani (who also owns Century Publications that brings out Urdu Daily Express, English Express Tribune and transmits Express Channel); Mian Amir Mahmood (Dunya News); Mian Muhammad Mansha (Nishat Group); Malik Riaz (Bahria Town); Arif Habib (Arif Habib Group); Hussain Dawood (Engro Group); Aqeel Karim Dhedhi (AKD Group); Gohar Ejaz, Sultan Ali Allana and Zubair Tufail.
Idea was to call thirty leading entrepreneurs of Pakistan and ask them about the problems they were facing doing business. When business leaders lamented that they were harassed by NAB, COAS said that the solution to the dilemma was formation of a Committee comprising of entrepreneurs. If a businessman is accused of any wrong doing the said Committee could investigate and decide whether the case should be handed over to NAB.
On learning about entrepreneurs’ second complaint that was about smuggling, COAS said that following the completion of fencing at the Pak-Afghan border the smuggling would end to a great extent. He said since the livelihood of Baloch living in the area bordering Iran was dependent on ‘smuggling’ of goods, that activity could not be blocked totally. COAS asked the entrepreneurs why they did not establish factories there that would provide employment and stop smuggling completely.
COAS, noted that most of the industrialists were not attempting to diversify their manufacturing and for the last five decades were only concentrating on textile manufacturing. He said in order to augment the exports of Pakistan they should invest in commodities much sought after in the world.
Citing instances of Reko Diq project in Balochistan and Coal-mining in KPK COAS stated that investment should be made on these projects: “If required Pakistan Army would provide security,” he added. He said that the present moribund state of economy was due to the prevailing approach of entrepreneurs (probably insinuating that many capitalists were the front men of mega-corrupt politicians who were just holding to the capital without utilizing that for the amelioration of the economy of the country).
When Mian Amir Mehmood said that he was about to invest heavily in the IT related sector in Pakistan, Hammad Azhar, Shabbar Zaidi and Hafeez Shaikh assured him of all support. When Malik Riaz said that he could turn Pakistan into Europe as far as construction sector was concerned provided he was supported by government, COAS asked who was stopping him. Hafeez Shaikh assured him of all the assistance required.
Then Hafeez Shaikh told about mass under-invoicing by the Pakistan entrepreneurs doing trade with China. According to them the total orders placed was worth $ 12 billion while in Pakistan officially only $6 billion was recorded. The remaining amount was directly transferred from China to their Dubai, UK and Switzerland accounts. It the money was invested in Pakistan it would have benefited the country.
When Mian Mansha lamented of being targeted by the government and being devastated, AKD and Gohar Aijaz retorted that, taking advantage of his closeness to the previous governments, he had sold expensive electricity to government and due to him the textile industry was deteriorating. AKD and Gohar Aijaz pointed out that Mansha should be getting only 18% return while due to his acquaintance with the former governments he was still getting 60% return.
Hammad Azhar, negating the argument that due to augmentation in the power tariff industries were closing down, pointed out that the consumption of electricity was increasing, showing that more and more industries were being put up.
News Pakistan
