Speaker Sindh Assembly, Nisar Ahmed Khuhro has advised business community to avail existing opportunities and make investment in interior of Sindh to establish industrial and power units. Addressing members of Korangi Association of Trade and Industry (Kati) on Thursday, he said that government can not provide jobs to all unemployed youth while private sector has ability to create job opportunities by establishing new units.
He said that the investors require no permission to establish power-generating units up to 50 MW and added that existing power shortage offers lucrative investment opportunity in this sector. He said that interior of Sindh need more employment as compared to urban areas. Industrialisation in interior of Sindh also necessary to control urbanisation.
He said that since last 11 years no investment was made in power generation, which has created power mess in the country. Sindh have billion of ton of coal reserves, which can be utilised for power generation, but the previous governments ignored these reserves and made no efforts to utilise them. Referring to prevailing world economic recession, Khuhro thanked Allah that magnitude of economic recessing in Pakistan is much less than economic recession hit China, USA and other countries of the world.
The speaker noted that although banks interest rates are very low in USA, UK, Germany etc, but their economic collapse owing to higher number of default cases of consumers financing, housing financing, personal loans and credit cards etc.
He assured business community that all concerns about power and gas tariff, bank markup rates and inflation will be communicated to concerned government corners for resolving the issues on priority basis.
Regarding law and order situation in Sindh, he noted that since last more then 10 months no big incident was reported from any corner of the province. Criticising privatisation policy of previous governments, he said that profit-making units were privatised whereas the loss making units are still in government control. We are not against privatisation and added that the rest units should be privatised soon.
Former President of FPCCI, S M Munir said that around Rs 320 billion of banks finances in textile sector has been sunk due to prevailing economic recession in the country. He emphasised the need of initiate consultation with business community to bailout Pakistan from economic crisis.
Chairman Kati, Mian Zahid Hussain feared that revenue generation and exports targets could not be achieved due to ever increase cost of manufacturing and decreeing industrial production. He said that the country is passing through serious economic crisis that needs immediate government attention and taking bold steps to bail out Pakistan.
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