Planning ahead: ‘Energy projects to be initiated for 50-years’

Addressing the Multan Chamber of Commerce and Industry members, Jatoi said the government had devised a rational policy to resolve the energy crisis.

He said agreements with foreign companies and monetary institutions were of no use if “we are unaware of our capability to resolve the biggest economic challenge the country faces.”

Jatoi said the government had decided to generate electricity using wind and solar energy, and coal and water resources. “This will reduce our reliance on foreign assistance.”

The minister said steps taken by the Pakistan Muslim League-Nawaz (PML-N) government were unlike those taken by previous governments. “They are not prompted by political sloganeering… future generations and the business community will remember us for our policies and our vision.”

Talking about giving the most favoured nation status (MFN) to India, he said the government would soon announce its decision after it had taken all stakeholders into confidence.

“Any country that will benefit our markets will get favours from our government,” he said.

Jatoi said the government would announce its industrial policy in March. He assured the chamber of commerce members that the government would soon open offices of all national institutions for the promotion of industries in Multan.

“The policy for auto-industry has been finalised and will be announced this January after Prime Minister Nawaz Sharif’s approval.”

He said that government had planned to build economic zones all over the country to encourage foreign investment. “Initially there will be 15 economic zones with special tax regimes focusing on self reliance.” Multan Chamber of Commerce and Industry President Khawaja Muhammad Usman asked the minister to end “ad hocism” in policymaking.

He said the government should formulate a permanent policy for industries after thorough research and planning.

Published in The Express Tribune, January 12^th, 2014.