Presentation Page 232 233
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The document outlines guidelines for balancing and diversifying industries, directing scarce resources to priority investment areas, conserving resources, empowering government regulation of private industry, demarcating public, private, and joint sectors as well as industry sizes, using fiscal and monetary policies to prevent monopolies and wealth concentration, and providing guidelines for importing foreign capital.
Presentation Page 232 233
- 1. Correct the imbalance in the development of industries and help bring about a desirable balance and diversification in them. Direct the flow of scarce resources in the most desirable areas of investment in accordance with national priorities. Prevent the wasteful use of scare resources and ensure their conservation and judicious utilisation. Empower the government to regulate the establishment and expansion of private industry in accordance with the planned objectives.
- 2. Demarcate areas among the public, private and joint sectors of the economy, as well as large, medium and small-scale industries. Prevent, trough fiscal and monetary policies, the formation of monopolies and concentration of wealth in a few hands so that the evils associated with monopolies can be effectively curbed. Give guidelines for importing foreign capital and the conditions on which such capital should be permitted to operate.