The president suggested the businessmen to make consortiums of leading entrepreneurs. — File Photo

ISLAMABAD: President Asif Ali Zardari on Thursday invited the business community to convene a meeting of all political parties over economic reforms to devise a strategy for placing the economy on strong footings.

The president also suggested the businessmen to make consortiums of leading entrepreneurs and consider buying out and managing various state-run enterprises.

However, he said consortiums should only be of local entrepreneurs so that assets and equity remain in the hands of Pakistani nationals.

The president called for maximum involvement of private sector and asked the business community to adopt public-private partnership models in mega development projects.

The Pakistan Business Council delegation comprised Asad Umar, Chairman, Kamran, Y. Mirza, Abdul Razak Dawood, Ali S. Habib, Muneer Kamal, Sikandar Mustafa Khan and Asif Jooma.

However, members of the council expressed concern over inconsistency of policies and excessive role of government agencies in business and commerce.

The council members said that Pakistan needed home grown policies instead of guidelines and directives of international agencies.

They also offered suggestions which the president said would be forwarded to the government.

The president said if Pakistan's business community takes ownership of the economic policies and plays a proactive role, no international agency would be able to dictate Pakistan in economic sphere.

The council members were told that the government would continue to pursue economic reforms agenda despite difficulties and challenges.

He said that during all his foreign visits and interactions with the foreign dignitaries, he had been pleading for enhanced and preferential market access to the products of the country so that our economy could be put on sound tracks.