Putting his weight behind the privatisation process, business giant Mian Mansha expressed his support for privately-owned businesses.
“Privatisation of state-owned corporations is the only way to put the economy on track as it’s not the government’s job to run businesses.
“Successful governments always have a minimum role and a smaller cabinets, it’s not the job of a government to run railways and other such corporations — it should be privatised,” Mansha said while interacting with young entrepreneurs at a seminar organised by Entrepreneur Organisation, Lahore Chapter on Saturday.
Mansha, who has been criticised on several occasions over his pro-privatisation stance, strongly backed privatisation of the power sector as he believed that losses are reaching alarming levels, posing threats to businesses.
“The losses of Water and Power Development Authority are equal to our defence expenditures, in such circumstances how will the economy of Pakistan grow. The power sector needs to be privatised,” he added.
Projecting optimism, Mansha believed the country is moving in the direction of prosperity. “No matter which government is in place, things would be lot more different and positive after three years.”
Mansha claimed that the region would become the next engine of growth of the world due to its geographic location and huge population.
According to Mansha, it is important to explore changing trends in business and explore new avenues of investments.
He stressed on developing the hospitality industry of Pakistan, converting the mountains and hill stations in the north into profitable ventures.
“I am very optimistic about the future of this region, which will be an epicenter of the world economy and people from America and Europe will line up outside of our embassies to travel to Pakistan,” Mansha said.
“We are also expecting relations with India to improve, it is strange that at a distance of a 20-minute drive across the border from Lahore, prices of medicines are 40% less than they are here.
Mansha believed that entrepreneurs are required to create more jobs. “We cannot beat terrorism without creating jobs. Terrorism and unemployment go hand in hand, we should adopt an entrepreneur culture to create jobs and eliminate terrorism,” Mansha added.