WEDNESDAY MAY 29: Energy crisis: Nawaz concedes: 'no overnight solution'

LAHORE: Pakistan Muslim League-Nawaz chief Nawaz Sharif on Tuesday invited overseas Pakistanis and foreign investors to invest in Pakistan, saying foreign firms setting up power projects in Pakistan would have full freedom to repatriate profits. Sharing his views over the energy crisis, he said.
"Please do not expect that we will solve the energy problem in a few days. I wish I could end the loadshedding issue overnight. But there is no overnight solution. We will try our best and will mobilise all available resources to solve this problem, but you will have to show patience. I cannot give you an exact timeframe but I will struggle and will do my best."
He said that power plants might take three years to operate. He said that because of short-term measures of the new government‚ a change will soon be visible. Addressing a ceremony in connection with the Youm-e-Takbeer, to commemorate nuclear tests in 1998, Nawaz said that it was a tragedy that a country with a nuclear arsenal had been hit hard by electricity shortages.
He expressed the resolve to build new power plants to overcome this crisis. Nawaz said that he had chalked out a "revolutionary economic programme" in consultation with the Chinese Premier during his recent visit which could help spur the national economy. He said that this plan will not only benefit Pakistan but China will also be its beneficiary. He said that this plan would also go a long way in overcoming unemployment. He pledged to steer the country out of prevailing energy and economic crisis.
The PML-N leader said the new government would build more dams to exploit Pakistan's huge hydroelectric potential, besides setting up more coal-fired power stations, and would seek help from China and Turkey in this regard. He said Bhasha dam project was almost ready, but work on it could not be initiated because $10-15 billion were needed for its completion. He said the PML-N government would carry out 'economic explosion' within the next five years. He said that new schemes would be launched to increase employment opportunities for skilled youth and provide shelter to the homeless.