Asad Umar state-owned entities failed to deliver except the period of 60s. AFP/File
LAHORE: Federal Minister for Planning, Development & Special Initiatives Asad Umar on Saturday reposed confidence in the private sector for Pakistan attaining economic viability in future.
“In the 21st century, I personally believe that only private sector-led development and growth can take Pakistan forward as the state-owned entities (SOEs) have failed to deliver except the period of 60s,” he said.
Speaking at a webinar titled ‘Role of the State in economic development’ organised by the Institute for Policy Reforms (IPR), the minister said that countries other than Pakistan passed through various experiences of development including SOEs. In the world of energy, the SOEs dominated the global energy market, he said.