“As government ends the first year of its term, I am happy to report that economic indicators are improving and foreign exchange reserves have increased beyond $10 billion,” said Chief Minister Shahbaz Sharif on Friday.
He said 2,500 megawatts would be added to the system over the next three years.
He was addressing the inaugural ceremony of South Asian (SAARC) International Exhibition at Expo Centre.
The chief minister said foundation stone for coal power plants being built with the cooperation of China in Port Qasim and Sahiwal would be laid next month.
Sharif said the government was setting up a number of energy projects and foreign investors were being invited to invest in them.
He also visited various stalls set up at the exhibition.
The chief minister gave a special award to industrialist Mian Tariq Nisar for paying the most tax.
Sharif said holding the South Asian International Exhibition was of vital importance for promotion of regional cooperation. He said such events improved contacts between SAARC countries and increased cooperation in various sectors.
He said the government, business leaders and office-bearers of chambers of commerce and industry would have to cooperate for industrial and economic development.
He said that industrialists, businessmen and office-bearers of chambers of commerce would be consulted in formulation of industrial and economic policies in the Punjab.
Sharif said the government was setting up a state-of-the-art Quaid-i -Azam Apparel Park (garments zone) near the Motorway with the cooperation of Chinese companies. He said the apparel park would bring in substantial increase in textile exports.
The chief minister said there were vast opportunities for development of the livestock and dairy farming sectors. “It is unfortunate that in spite of being a large milk-producing country, Pakistan processes only four per cent milk while India processes 24 per cent of the milk it produces.”
Sharif said that Turkey had a developed livestock sector…a government delegation will soon visit Istanbul to study the Turkish model.
It was lamentable that Pakistan had a negligible share in the $600 billion global trade in the sector, Sharif said.
The chief minister said that the World Bank had expressed willingness to give Pakistan a soft-term loan of $2 billion while Saudi Arabia had given the people of Pakistan an unconditional grant of $1.5 billion. “It is unfortunate that some disgruntled elements are trying to create doubts about the gift from a brotherly Islamic country.”
Sharif said the elements trying to create despondency in the society by criticising the positive measures taken by the government were suffering from mental bankruptcy.
He said apart from dealing with the energy crisis, the problem of eliminating terrorism was a big challenge. These problems need to be resolved together in order. The Nandipur Power Project had suffered from the worst kind of criminal negligence during the previous government’s tenure. The machinery for the plant had gathered dust and rust at the Karachi port for three years and some of the equipment was stolen, increasing the cost of the project by billions of rupees. However, he said, work on the project was in progress and now its first turbine would start producing 100 megawatt from the next month.
The chief minister said that the foundation stone for two 600 megawatt coal power plants would be laid at Port Qasim with help from China and the foundations for two more 660 megawatt coal power plants would be laid in Sahiwal in May.
He said that Chinese companies were providing capital for these projects. He said this was reflective of their confidence in the Pakistan Muslim League-N leadership.
Published in The Express Tribune, April 26th, 2014.