Govt machinery to serve as facilitator, not regulator: PM

LAHORE : Prime Minister Syed Yusuf Raza Gillani has said that the government machinery will serve as a facilitator rather than a ‘regulator’ and that all unnecessary barriers in way of economic growth will be removed. “We will not allow the pace of economic growth of the country to be impeded, and are determined to facilitate the private sector in this connection,” he said while addressing a seminar on “Economic Freedom - a stimulator in achieving business excellence in South Asia”.
The seminar was organised by SAARC Chamber of Commerce & Industry (SCCI) in collaboration with the Federation of Pakistan Chamber of Commerce & Industry (FPCCI), supported by Friedrich Naumani Stiftung (FNS).
Governor Punjab Lt Gen ® Khalid Maqbool, President SCCI Tariq Saeed, President FPCCI Tanvir Ahmed Sheikh, Resident Representative FNS in Islamabad, Peter Andreas Bochman, and leading businessmen including Iftikhar Ali Malik were among the participants.
The Prime Minister said that SAARC is at a crucial crossroads, it has achieved much, but certainly has the potential to achieve much more.
He said that the strengths and weaknesses of SAARC need to be analyzed, and member nations should convert debate and deliberations into concrete action—in order to meet the enormous challenges of the fast changing 21st century.
The Prime Minister said that member nations of SAARC have a collective responsibility to demonstrate the courage, commitment and foresight to transform South Asia into a progressive, peaceful and prosperous region.
A paradigm shift in thinking and attitude as a whole will be required to achieve this objective, which is the sincere and earnest desire of all member states, he added.
He expressed confidence that the South Asian business community has the determination and the imagination to ensure such a transformation that could help achieve the noble objectives for which SAARC was created.
Pakistan is privileged to be the current leader of the SAARC business community, he said, adding that it is both an honour as well as a challenge.
“I am sure that the chamber under the dynamic leadership of Tariq Saeed and his capable team will add a new chapter in the history of SAARC. This can be done by enhancing economic cooperation and forging new alliances to tap the full potential of the member countries”, he said.
He said that islands of affluence and centers of excellence exist in different parts of South Asia, and emphasised upon the need to harness the potential of these centres.
SAARC has succeeded in developing and elaborating a framework for regional cooperation, he said, adding that from small beginnings limited to technical cooperation, the body is advancing towards agreements and decisions for substantive interaction.
“We have programmes aimed at social uplift, poverty alleviation, vigorous people-to-people contacts, creation of a free trade arrangement and environmental protection, which are all areas of vital importance”, he observed.
The Prime Minister said that Industry has rightly indicated that intra-regional trade of only 6 percent does not reflect the potential available in the region, adding that the business community of SAARC will surely play its due role in tapping the existing potential.
The trade liberalization program to be concluded by 2016 will provide a level playing field to all member states, he said, adding that inclusion of services in SAFTA negotiations would further widen the sphere of commercial activities in the region.
Gillani said that Pakistan as a free market economy possesses enormous potential for investment.
“Our government has embarked upon a liberalized economic policy, which will not only help in expansion of economy but also promote economic freedom in the country”, he said.
He requested the business community of SAARC to benefit from the liberalized investment and trade policies in Pakistan, and said that it will not only help strengthen relations but will also contribute positively towards regional development.
The Prime Minster said that politically elected leadership of Pakistan is very much aware of the benefits of Economic Freedom and manifesto of present government is to ensure the socio-economic freedom of the society.
In the prejudiced policies of the past regimes in the region, economic freedom has been one of the neglected items in their agenda.
Economic Freedom ensures rule of law, promotes democracy, secures basic human rights, and confers rights of doing business, he said.
“ Our party is a fervent supporter of Economic Freedom and perceives economic freedom as an instrument of economic well-being of the country.
Yousaf Raza Gillani said that the people of South Asia were engaged in commerce with each other for centuries and they must build on their ancient civilizational and commercial linkages by renewing and nurturing the economic, social and cultural ties that bind this region together.
President SCCI Tariq Sayeed in his address requested the prime minister to minimize the bureaucratic and political hurdles coming in way of promotion of business in the country.
He also praised former Prime Minister Benazir Bhutto for her initiatives and vision to bring prosperity economic well-being in Pakistan as well as South Asian region.
President FPCCI Tanveer Ahmed Sheikh said that higher economic freedom bring higher per capita income. He said that most of the countries in South Asian Region do not enjoy much economic freedom.
He emphasised upon the need to control corruption to provide freedom to the businessmen and industrialists from corrupt elements.