(08 December 2017)
President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Friday said the government should ensure transparency in mega projects and ensure fair and equitable treatment to local and foreign investors.
Unbiased and even-handed treatment will help government win the trust of local and foreign business community, he said.
Mian Zahid Hussain said that the trust of the local and foreign private sector is necessary to make these projects successful in the long run which will result in expanded production, more jobs and additional revenue.
He said that recently the government decided to make payments to five power projects under CPEC on preferential basis and keep them insulated from the infamous circular debt.
On the other hand the local investors who have established power plants were never paid in time majority of them is still awaiting payments to the tune of tens of billions.
Such decisions can be termed preferential treatment which is not good for the country and the business community which is still willing to invest in heavily these projects, the former minister warned.
He noted that secrecy will never help promote confidence of investors in the economic corridor and other related projects which is set to change the fate of Pakistan by providing uncountable opportunities.
Transparency will not only help investors to take critical and timely decisions but it will also improve the image of the country while unnecessary confidentiality and non-disclosure can damage the projects, the veteran business leader observed.