Musharraf for steps to arrest flight of capital: peace vital to economic progress

President Pervez Musharraf said here on Monday that the country's economy was on a downslide because of the capital flight and unsatisfactory law and order situation in the country. Addressing a delegation of business community.
The President said that the elected government was making efforts to overcome the challenges faced by the country internally and externally. He said that hike in prices of oil; wheat and edible oil in the international market was a serious challenge because of negative impact on the economy of the country.
President Musharraf stressed the need for measures to stop capital outflow and encourage inflow of money in the form of foreign investment. He said that peace in the country could rebuild the trust of foreign investors. Earlier, the business community informed the President of negative impact of increase in the rate of bank interest, and demanded construction of roads and small dams in the province.
They mentioned the benefits of the mega projects in various parts of the province, and said that the government must focus on constructing more dams in Hob, Lila Saifullah, Qila Abdullah, Pishin, Kalat and Mastung areas.
The delegation demanded extension of Trickle Irrigation System to other districts, waiver of agricultural loans as announced by the President during his previous visit to Balochistan, an end to power load-shedding, establishment of apple treatment plant and Bostan Industrial Zone in Balochistan, proper representation for the traders of the province in foreign delegations and exhibitions, establishment of an expo centre in Quetta, upgradation of Trade Development Authority (TDA) and measures for expediting construction work on various highways in Balochistan.
The President assured the delegation of his full support to the business community. He said that a special programme was in progress to train youths from Balochistan in different trades. So far thousands of youths had been trained and provided jobs.
He prayed for the success of the coalition government in the Centre and the province, and said he would work happily with all those who worked for the development and prosperity of the country and Balochistan. The President advised the business community to invest in power generation and help the government overcome the energy shortage.
He underlined the importance of Kachi Canal Mirani and Sabakzai dams, and said that these projects would irrigate more than 0.8 million acres of land. He asked the growers to cultivate wheat, sunflower, cotton, canola and other crops. The President expressed disappointment over delay in completion of road projects and mismanagement of funds in Quetta Water Supply Scheme, and said that these projects must be completed within stipulated time.
He called upon the business community and political leaders of the province to unite and foil the attempts of those elements, who were playing in the hands of foreign forces and were creating law and order situation in the province.
A delegation of tribal elders of Balochistan also called on the President, and informed him about the problems confronting in the province, especially waiving of the agriculture loans. Balochistan Governor Nawab Zulfikar Ali Magsi, Chief Secretary Nasir Mehmood Khosa, Provincial Police Officer Saud Gohar and other senior officials were also present on the occasion.