 بسم اللہ ایک وانرین مصلاحنگم پاکستان بہت ہم دل پر آجاہ سشنے میں ہمارے بارے کی تعلق about the انتفاس of گمت with the corporate sector today we are going to talk about the roles of گمت in the economy in the economy the government has the most prominent role because it is the biggest stakeholder in the economy and is not only the catalyzer of the economy but it is also the custodian of the economy and without the government playing it is critically effective role in the economy all of the businesses would want to just dwindle or tend to eradicate therefore it is extremely important that the role of the government is such that it tends to facilitate the rollover and the growth of the economy now what we have been seeing in Pakistan since the past many years that it has been a rollercoaster ride for Pakistan whereby sometimes the economy is going up sometimes it going down sometimes we are going out and asking for loans so that we can basically manage the imbalance in the foreign exchange and we tend to take more loans and therefore we get more indebted and therefore we have a crisis upon a crisis situation so maybe what we see is that the government is not adequately or properly playing its role in the economy of Pakistan now the most important thing is is that it has a regulatory role and when we are looking at the regulatory role the determination of conditions under which persons or corporations may enter certain lines of business so again the government is acting as a facilitator is regulating how people can come into a particular sector so that it does not become oversaturated or it plunges into darkness the government will regulate or assist the conduct of various ventures so again it can promote certain ventures such as the sugarmills industry or the power sector or the electronic cars market through various vessels and through various instruments public control may extend to the results of business operations so again the government can tend to facilitate for example when we are talking about media it is facilitating it by providing different advertisements to the media by providing different research studies to the media therefore the media is getting a lot of public sector payments based upon that so therefore we see that it can turn the whole market altogether the government may control the relationship between various segments of the economy so again the government can create a matrix whereby it can ensure that both the front end and back end relationships and networks are treated for any particular economy so that they can be optimization so that they can be efficiency so that it can be effectiveness within different organizations of the economy the government may put in place legally constituted regulatory bodies just like for example the circuities exchange commission of Pakistan the state bank of Pakistan the federal bureau of revenue the Pakistan national accreditation council and many more which are over there they all will be a part of the government and through those different regulatory bodies the government will ensure that business is being done in the right way by the business community then we also see that it can have direct controls and indirect controls direct controls are more drastic in their overall effect and impact for example industrial licensing so the government can say that to set up a new sugar mold you have to take a license to set up a power plant you have a license to set up or to do mineral extraction you have to have a license through licensing it can control and regulate the market and then it can also do it through price and distribution controls just like we see that we have joan bazaar in Pakistan and that all the time the government employees and officials are going for surprise inspections to see that what are the prices and the distribution methodologies for the very basic necessities of the common man also and they can be indirect controls also indirect controls are usually exercised through various fiscal and monetary incentives and disincentives one of the most easy ways to do it is a high import duty so right now we have very high import duties for smart mobile phones we can also have them for luxury cars we can have them for luxury products and things like that so that the government not only tends to generate a lot of revenue for itself but also tends to discourage the import of such high value added items because definitely it depletes the foreign reserves of the government and of the country which then have to be supplemented through loans and other support packages which in the long run can be very expensive so that is what we have to look at now it does have a promotional role also in developed countries instead of regulating government assist in industrial labour agriculture and consumer interest in the developing countries the promotional role of the government assumes special significance due to low infrastructure so again countries like Africa where we have the different African countries you can see that the role of the government is basically to overcome the various shortcomings which exist within infrastructure and simply also in Pakistan because we have an agrarian economy and a very rural background so they again those areas need to be promoted need to be developed and based upon that new economic activity can be generated which we are seeing in Guwadur actually because through that port this whole area is now sprawling into a commercial zone altogether and that is a very prime example of the promotional role the state assumes direct responsibility to build up and strengthen the necessary development of infrastructure so again it is a responsibility of the state as you can see right now motorways are being made different economic zones are being created so Guwadur port is being created new airports are being developed so all of this happening together farm to market roads are being developed so all of this is the direct responsibility of the government to ensure that it can promote and facilitate the trade taking place and also the surplus items can be taken to the Karachi or Guwadur port from where they can be exported at a premium and also generate a lot of foreign exchange for Pakistan the promotional role of the state also encompasses the provision of various fiscal monetary and other incentives so that is what we see that post budget we see fiscal and monetary policies basically emerging seeing that how things are being regulated and controlled and that is again a very important responsibility of the government now what we see is that usually in the entrepreneurial role of the government national emergency causes an increase in the state activity such as the COVID-19 scenario so right now what we are doing is that in the COVID-19 scenario how is the government coping with it how is the government overcoming the adversaries and the shortcomings all of that is coming into place مجھر ایک نومیک دسلوکیشنزلتن the need of the government for example when we are creating dams and things like that مجھر دسلوکیشن taking place in the Guwadur port also we see there was a dislocation and things like that in disasters and depression government has its own responsibility of the industry so naturally the 2005 earthquake the 2010 floods and other things and now we have this COVID-19 which is a stark reality right in front of our face so the government has to play that role so that different industries and different businesses do not close they can sustain themselves and then they can move forward in a better way in the post COVID-19 scenario the need for the service of private undertakings also wastage of natural resources that is when the government tends to click in to ensure that national resources are not being defeated and also failure of private enterprise in case it is a monopoly so the government not only tends to facilitate but also tends to block sometimes when the private sector are creating monopolies or they are creating because through cartelization there is no competition and that can in the long run have a very negative impact on the economy as a whole so that is what the government has to ensure and protect the economy, the stakeholders, the people and overall the nation so again in the context of business many steps are undertaken and based upon those different steps we see that the government plays a positive role whereby the economy as a whole and also in segments is facilitated to move forward and besides that what we see is is that through the provision of infrastructure and the provision of different resources and incentives the government tends to spark and ignite business in different regions and different places and sometimes across the country just like Kamiab Youth program right now so it's all for the youth trying to give them the skills which they will be able to sell for freelancing so these are the different roles of the government thank you so much