LAHORE: Prime Minister Z. A. Bhutto said here today [Sept 9] that the Government had no intention to nationalise any more industries, provided the industrialists co-operated with the Government. Addressing a representative meeting of about 200 industrialists, businessmen and traders from all over the country in … Governor’s House, Mr Bhutto said that by co-operation he meant increase in production, and abstention from profiteering.

The Prime Minister said the Government had not broken any pledge by taking over the vegetable ghee industry in the country. The Prime Minister said that … the Government was forced to nationalise the ghee industry because of persistent refusal of the industrialists to increase production in spite of their solemn promises and in spite of the incentive of an increase in the price of ghee. …

After the takeover of various industrial units in January, 1972, the private industrial sector had been told time and again that there would be no further nationalisation provided the industrialists co-operated. The Government wanted the industries to increase production, and to set up more factories to create more employment. The Prime Minister said it was unfortunate that this did not happen.

Published in Dawn, September 10th, 2023