Sindh Chief Minister Syed Qaim Ali Shah on Wednesday said that China and the World Bank are keen to invest in Thar coal project for energy generation and the business community be assured that the electricity crisis will end in a year.
Federation of Pakistan Chambers of Commerce & Industry members voiced their concern over the worsening law and order situation and ongoing energy crisis during a meeting with the Chief Minister as he visited the Federation House here. This situation has reduced the industrial growth phenomenally, due to which unemployment peaked and gave rise to street crimes, the members said.
The CM while replying to the volley of questions said that the government is working on a two-tier policy - political and economic - to create social and economic stability in the country. He acknowledged that the law and order situation has deteriorated in the wake of massive unemployment that escalated from the decline in industrial growth after sheer energy shortage.
Commenting on the issues raised by FPCCI President Tanvir Ahmed Sheikh, Qaim said that the economic crisis in Pakistan has fortunately not reached the level that is being faced by other greater world economies including the US. The problems are still there and need resolution, he added. He apprised the business community that the government has recently held a conference in Washington, attended by around 35 countries.
This conference has raised hopes for investment in the energy sector, he added. He maintained that keeping in view the World Bank's interest in Thar coal, the government is likely to give the bank two of eight developed blocks. He said that there is Thar Energy Board headed by the CM himself offering one-window operation to investors.
Now the investors need not run from pillar to post for getting their jobs done. The board is backed by the federal and provincial governments. The previous Thar Coal Authority failed to play its due role and remained almost inactive, the CM observed.
There is Rs two billion investment offer for Thar coal project, he said, adding that the project will not only enable the country produce electricity but also gas and water. He said that President Asif Ali Zardari is in touch with the business community on the overall economic situation of the country.
He termed the increasing unemployment as a "major challenge" not only for the government but also the business community. He urged industrialists to generate employment, as it is their prime responsibility. He said that the jobs should be given on merit to serve the purpose.
Inviting the attention of investors, Qaim said that in the present day economies, food production has attained great importance and has great potential to grow. Investment in the agriculture sector will also be encouraged, he added. He pointed out that various countries are eyeing the agriculture sector.
Qaim assured the FPCCI members of settling their claims of compensation for losses in the wake of December 27 hooliganism. Regarding land provision to business community willing to establish a university, he said a scrutiny committee has been set up with two members from the businessmen side.
He said the Sindh government is committed to ensure quality education and has reopened some 2500 closed schools. The World Bank is also assisting the Sindh government in developing the education sector. He said that some 7,000 teachers have been appointed while the Sindh government plans to appoint another 15,000 for universities and higher academic institutions.
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