Federal Minister for Planning, Development and Reforms Ahsan Iqbal has said that the government was working on up-gradation of power transmission and distribution (T&D) network as the existing system does not have the capacity to carry more than 16000 MW of electricity. Addressing the business community during his visit to Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Ahsan Iqbal asserted that the country's economy was on the path of revival.
He informed the business community that 10,000 MWs electricity would be added to the national grid by 2018 as different power projects were being executed. "Government is also working on improving transmission and distribution system of the country. The existing T&D network does not have the capacity to supply more than 16,000 MWs. Transmission line from Faisalabad to Mitiari would be laid within the next three years," he said.
"Business as usual attitude will lead us to nowhere. We will create some five global brands. Made in Pakistan should now become a brand of economy. "Pakistan was being considered among the rapidly sinking economies of the world a few years back. Both the foreign and local investors started relocating their businesses to others countries due to various reasons including energy crisis and poor law and order. However, PML-N soon after coming into power initiated sincere efforts for revival of the economy. Prime Minister Nawaz Sharif soon after taking over visited China where he signed a memorandum of understating (MoU) for $46 billion-China Pakistan Economic Corridor (CPEC) project," he added.
The MoU for this multi billion project was later materialised by the Chinese President during his long awaited visit to Pakistan. Xi Jinping declared Pakistan as 'the country of shared prosperity,' which is a strong sentiment, he said. Construction of the state of the art airport is underway in Gwadar, which would be functional by the end of 2016. Work on road connectivity from Gwadar to different remote areas would also be completed by December 2016. The government has declared Gwadar port as free trade zone, he added.
He also announced to organise the Joint Summit with FPCCI on China-Pakistan Economic Corridor. To restore lasting peace, which is crucial for the socio-economic stability of the country, the federal government after consultation with all stake-holders initiated Zarb-e-Azb operation to thwart the nefarious designs of terrorists. The military move is now successfully underway, he said. Business fraternity is much satisfied with the city's law and order since the LEAs have initiated the ongoing Karachi Operation, he said.
He also quoted William Shakespeare as "there is a tide in the face of the affairs of men. Which, taken at the flood, leads on the fortune,' President FPCCI Mian Muhammad Adrees on this occasion said that the apex body would play an active role in the implementation of CPEC and Vision 2025 for the economic prosperity of Pakistan.
The project is a historic development, which will prove a turning point in the welfare and prosperity of the nation. This Corridor is a fusion of multiple developments in the global, regional, bilateral and domestic contexts. The meeting was attended by Waseem Vohra, Shahnawaz Ishtiaq and Ikram Rajput, Vice Presidents of PFCCI, Senator Haseeb Khan, Mirza Ikhtiar Baig and various members of business community.
Comments
Comments are closed.