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Institutions nationalized in 70s caused economic crisis in Pakistan: PM

LAHORE: Prime Minister of Pakistan, Nawaz Sharif has said that the institutions nationalized in 70s have been the real cause of economic crisis in Pakistan and these institutions will be sold out – ARY News reports.

According to details, the Prime Minister told that the organizations taken into state custody during 70s era have been the root cause of economic crisis in Pakistan. He told that favorite people were recruited in these institutions, who were not eligible enough and for this reason these entities were completely ruined, causing huge losses to the national treasury in return.

He told that these institutions will be privatized in order to set the economy of Pakistan on a right path.

PM Nawaz told that the Government is meant for administering the state machinery, not to run hotels and industries and it was the darkest chapter of the history of Pakistan when the governments started doing so.

He further stated that there no state or anti-state elements in the country, only the policies are wrong.

PM Nawaz Sharif continued saying that the rulers of the state repeated their mistakes and if meritorious policies were adopted then there would be no terrorism in the state, he added.

He further mentioned that sectarian killings in Pakistan are also an outcome of the same approach of the rulers.

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