Mian Mansha gives the recipe for rapid economic growth

LAHORE:

Renowned industrialist and Chairman of Nishat Group, Mian Muhammad Mansha, gave a recipe for rapid economic growth and called progressive market-oriented policies based on modern methods the key to success.

“Pakistan can achieve rapid economic growth by lowering trade barriers and minimizing state influence on the economy through privatization and austerity,” Mansha said during a speech to the Chamber of Commerce. and Industry (LCCI) on Wednesday.

Citing that privatization favored various sectors of the economy, he pointed out that privatization of the telecommunications sector allowed the public to have access to everything from telephones to cheap calls.

He noted that the good deeds of the state should be appreciated. “It is good that highways are being built and development works are being done in a speedy manner, but at the same time, the state should also focus on sectors that drain billions of rupees a year.”

He was of the opinion that the privatization of airports, as well as that of Pakistan International Airlines (PIA), would increase their efficiency and reduce the cost of air services.

The railway, which was a lucrative business under British rule, became a burden on the state, he said.

Mian Mansha pointed out that one of the reasons for the high cost of electricity was state intervention.

He also stressed the importance of improving relations with countries in the region, mentioning that one of the reasons for the development of Europe was the removal of border restrictions and the promotion of bilateral trade.

Published in The Express Tribune, February 3rd2022.

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