ISLAMABAD, March 4: The Pakistan Tehrik-i-Insaaf unveiled on Monday its nine-point industrial policy and claimed that it would revive the industry by restoring confidence of investors and creating 10 million jobs.

“Industry in Pakistan is in dire straits due to crippling energy crisis, lack of access to finance and skill shortages. The industrial policy aims to build solid foundations for the revival of the industry, create 10 million jobs for youths over the next five years and make the sector more viable and competitive in the international market,” PTI leader Asad Umar said while unveiling the policy.

The policy calls for an alternative dispute resolution mechanism to speed up contract enforcement because it would boost the confidence of investors in the country.

“The PTI is committed to reducing fiscal deficit to 4.5 per cent of GDP,” Mr Umar said, adding that it would create space for banks to lend to the industry and small and medium-sized enterprises.

He said his party was in favour of setting up specialised financial institutions to raise long-term capital for the industry and focusing on developing vibrant debt and capital markets to fund investment spending.

“The PTI will allocate land for special economic zones at every major urban centre to develop industries based on natural resource endowment.”

Mr Umar said the party’s skills development strategy envisaged increasing technical skills enrolment to two million workers from the current 300,000.

“Technical skills for workers will boost individual income generation capacity and productivity of the industry,” he said.

Imran Khan, the PTI chairman, said the country would no longer be in need of any foreign aid if his party was voted to power; its main focus would be on developing human resources and eradicating corruption.

“Poverty is increasing in the country because of the rising corruption and the only solution to control inflation is to eliminate corruption,” he said, adding that after coming to power his party would ensure supremacy of the law and action against those involved in corrupt practices.

“Our top priority is to depoliticise bureaucracy and get rid of corruption culture because these have a direct link with inflation and poverty,” Mr Khan said. “The country can be made richer by recovering the public money which some corrupt leaders have stashed in accounts abroad.”

He said rule of law could be enforced in the country in only 90 days. “Those who are corrupt cannot remove corruption from the country in 90 days,” he said.