LAHORE - Nishat Group of Companies chairman Mian Muhammad Mansha has said that the 6,000MW Gadani Coal Power Project is being politicised by some vested interests including a provincial government with an aim get it dumped on the pattern of Kalabagh Dam.
Addressing a seminar on ‘Investment climate way forward and role of media’, which was organized by Media Advocacy Centre here on Friday, he criticised the irresponsible attitude of media, saying the press would have to show more seriousness to portray the country’s positive things to attract foreign investment.
Sikhandar Hameed Lodhi, Syed Babar, Dr Salman Shah, Arif Nizami, the Printer/Publisher of the Nawa-I-Waqt Group Ms Rameeza Nizami, former bureaucrats, business tycoons, media persons and financial experts also participated in the discussion.
All participants unanimously termed good governance, strong institutions and sound macroeconomic management as the drivers of economic growth. They stressed that both media as well as the government need to roll up their sleeves for the economic revival of the country.
They said that media organisations, which have played a significant role in instilling awareness in citizens, can also play a role in overcoming their internal shortcomings through self-regulation while holding dialogues with the public.
Having full faith in Pakistan’s economy, an optimistic Mansha asked the media to highlight the positive characteristic of the country as well as the economy. Being the biggest private sector employer of Pakistan, the Nishat Group that Mansha heads is also the country’s largest exporter, having large presence in financial, textile, cement and power sectors. Media can highlight all these matters, he added.
Pakistan’s wealthiest man, terming power shortage as the biggest issue of the country, said that solution of power crisis lies in privatisation of power sector. “The public sector power projects are operating on a very low efficiency. Sensible solution to the crisis is to privatise and deregulate this sector.”
He said that instead of wasting our energies on discussions about construction of big dams, small power plants should be built by utilising all means of alternative energy such as coal, solar, hydel and baggase.
Mansha contended that running enterprises institutions was not the government’s job, and that sensible change in management with ownership could turn these loss-making enterprises into profitable ventures.
“Privatization of PSEs will solve several economic ills, and the country should not be afraid of privatising non-productive state assets,” argued Mian Mansha.
He said that public sector organisations like PIA and Railways should be privatised to enable them to grow in a competitive environment.
Former finance minister Dr Salman Shah suggested training for media particularly on financial issues for accurate reporting. “Media should educate public that private sector is engine of growth and government has nothing to do with energy sector. Government will have to de-regularize even the oil prices to create real competitive atmosphere.” He urged the media to pull the government out of energy sector to ensure smooth and transparent working of this sector.
The Nation Managing Editor and Publisher Ms Rameeza Nizami said the media’s job is to report; ensuring accountability, good governance or formation of policies cannot and is not all possible. Just honesty and accuracy in reporting is a big enough task.
Participants of the seminar asked the government to spell out its priorities with a pledge to work in collaboration with all the stakeholders to get irritants removed to promote trade and industry in the country.
“Until and unless the government and the private sector are on the same page, it would be difficult for the economy to get back on rails.”
They said the country is facing its gravest economic crisis, as the economy is in deep recession with poverty along with high inflation a recipe for disaster. They warned that Pakistan is heading towards high inflation if immediate improvement in governance is not accompanied with cut in expenditures and substantial increase in revenues.