LAHORE: Prime Minister Imran Khan remarked on Tuesday that the country’s economy never recovered from the 1970s nationalization.
“I should have implemented the industrial package earlier in my term. No nation can prosper only through food exports. “”Manufacturing is critical to achieving the intended goals,” he said at a ceremony. “Unfortunately, the 1970s nationalisation had a negative impact on the economy. And we never made amends.
When a government adopts anti-profit laws, the sector cannot develop; the socialist attitude steered the nation in the wrong direction, he stated.
“From day one, we have been focused on industry, “Prime Minister Imran Khan said.” “We’ve never had long-term economic planning. We are concentrating our efforts on small and medium-sized businesses.“
PM Imran said that Pakistan’s ease of doing business index would improve in the coming days, noting that the government has promoted the revival of the country’s ailing industries. The premier said that foreign Pakistanis would get a five-year tax exemption if they invest in the country’s industries via joint ventures.
“The nation’s industrial development would accelerate when foreign Pakistanis begin investing in the country with their talents and cash. They just want trust in order to invest in the nation, “he continued.
In the 1990s, China and India solicited investment from their foreign inhabitants in their economies as they liberalised their economies. The premier said that the information technology sector should have been rewarded for attracting foreign capital. “We need to advertise boot camps for information technology workers,” he said.
Prime Minister Imran said that he hopes that the country’s businesses will help the country’s economy grow.
