Pakistan s growth strategy was based on privatization, deregulation and trade liberalization. Addressing Egyptian businessmen and members of International Economic Forum here, he said this was the age of private enterprise. The free-market economy is leading the way to progress.
Governments have to take the back seat.
Their role is that of facilitator. We in Pakistan are trying to keep pace with international trends, said the Chief Executive. He said the privatization process is on track in Pakistan. Public enterprises in banking, finance, energy, transport and communications, to name only a few, have been, or will be, offered for disinvestments. Pakistan is now in the process of reducing the budget deficit through financial discipline which includes broadening the tax net, right-sizing government departments, drastically curtailing expenditure and restructuring the economy.