KARACHI: Prime Minister Mr Liaquat Ali Khan,inauguratingthe CouncilofIndustries in Karachi on Thursday [Sept 8], exhorted the `advanced countries` to give `the wherewithal for development` to the `underdeveloped countries` along with technical assistance. Calling to investors both at home and abroad, he said that the Government estimate of total capital required for industrial development over the next 10 years was Rs 300 crores.

The Government ... did not subscribe to the viewpoint that there was enough of capital in the country, and foreign capital was not essential for industrial and economic development. `If Pakistan has to take rapid strides in development of industries it should obtain financial assistance from abroad,` he said.

The country could not await the slow process oflocalcapitalformation.ThePrimeMinister said that one of the obstacles to industrial progress was `the timidity of industrialists and shyness of the investors` in Pakistan. Home investors, he regretted, were tempted with higher profits and quick returns in trade and commerce. `But anyone who wants to serve his country must not yield to such temptations,` he declared. Staff correspondent