KARACHI - The turnaround of Pakistani industrial economy depends on the extent of rectification of internal weaknesses faced by the industry. These includes electricity shortages, weak infrastructure, unpredictable policies, multiple inspections, high financial cost, low availability of liquidity with banks for industry, high risk profiling of industry in the present situations altogether costing the negative growth of the industry. Engineer MA Jabbar, Chairman Site Association of Industry and former FPCCI Vice President, who represents the biggest industrial estate of the country, pinpointed the problems here on Saturday. He said that it is the time the government should be serious to help industrial economy as other countries are actively supporting the industries which are affected by the global financial crisis and lower growth in the world trading. The industrial economy which needs corrections from minus growth of 3.3 per cent could be best done by providing market access, reversing the destruction of consumption and above to all creating liquidity with the banks for providing credit for the industry. The additional and most important measures, which may deem necessary are restructuring of the loans of defaulting industry through reversing of provisioning by banks. The banks will be willing to chase the entrepreneurs for restructuring once the prudential regulations would permit them to reverse the provisioning of default amounts. Industry is our strength and our future. The little help of the government may be considered by the policy-makers as due intervention to save the employment much needed for the continuity of the democratic process and the tenors of the governments elected by the citizens, he elaborated. He, however, said that the industrial economy support of the government to keep the employment intact and create comfort for not only financing the cost of the borrowed money but as well as avail more needs from the banks due to rupee dollar parity change by over 30 per cent. This rupee depreciation resulting in increase amount of taxes on imports together has eroded the feasible production levels of the industry as in simple they need 50% more money for managing the industry against the available capacity and its utilisation. He said that the available liquidity with the banks is being moped-up by government through rolling of sovereign guarantees which has created a shortage of liquidity for industry in private sector. He pointed out that the settlement of circular debts, financing of oil import bills by banks have together created more attraction to divert the liquidity of banks with no exposure against such finances which are risk free and under rolling guarantee of the government. He proposed that the Finance Ministry should consider picking up some half way service charges of the banks on the KIBOR plus financing, on long term and short term loans taken by industry so that it can have some breathing to come out of the shocks of negative growth and squeezed market situation and force endeavours for attending positive growth level in the interest of the industry economy in specific and overall economy in general of the country.