Cost of doing business in Pakistan has increased tremendously due to lack of infrastructure facilities putting strains on the growth of trade and industrial activities. The government should involve private sector by moving to public-private partnership in order to develop the country’s infrastructure at a fast pace, President Islamabad Chamber of Commerce and Industry (ICCI) Mahfooz Elahi said on Thursday.
The country needs massive supporting infrastructure to absorb, support and sustain increase in growth which it has failed to develop properly despite making many five years plans he said. Development of infrastructure would help meet local demands like energy, clean drinking water, sanitation facilities, and transportation as well as communication system creating job opportunities. It would generate demand for more raw materials which in turn would create more income for local businesses.
He said private investment in infrastructure projects has declined over the years and no major infrastructure project has been completed in the country on a Build-Operate-Transfer (BOP) basis. Lack of adopting new management practices and latest technology in agriculture irrigation system has resulted in poor growth of crops. Similarly ignoring energy, water and communication infrastructures have badly stalled the growth of trade and industrial activities ICCI president said. He stressed the involvement of private sector and exploiting its potential for developing infrastructure in all segments of the economy as these projects are quite expensive and partnership with private sector can enable the execution of these projects.
Inorder to arrest the damaging trends in planning and execution sectors you need to give due importance to the rightly technically qualified and honest peoples in your country
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