Prime Minister Shaukat Aziz has said that the government was preparing a policy to expand the role of private sector in power generation. He was speaking at the inaugural session of 'Industrial Conference' and Site export awards 2005 ceremony organised by Site Association of Industry (SAI) at a hotel here on Friday night.
Shaukat Aziz said he has discussed the issue with his cabinet members and an announcement in this regard will be made in a few weeks.
He said that there was a severe shortage of power in the country and it can only be met by expanding role of private sector in the area, adding the government was ready to give all possible incentives to private sector to invest in different areas of power production.
Shaukat Aziz said that the government wants the private sector to earn reasonably so as to reinvest in establishing more industrial units in the country.
He said that the government has intended to achieve 25 percent industrial growth by 2010. The Prime Minister pointed out that in last four months exports have increased by 22 percent and revenue collection by 20 percent during the same period.
Shaukat Aziz said the government was ready to remove bottlenecks in export process to achieve 20 billion dollars target by the year 2007.
He pointed out that trade talks are scheduled to be held in Hong Kong shortly in which Pakistan will emphasise on giving level playing field to everyone. "Pakistan believes in removal of all subsidies including on agriculture products."
The Prime Minister said that Pakistan has already opened its markets and reduced tariffs and wants similar opportunities in international markets.
He noted that when Pakistan reduced tariffs and opened its market some corners objected on it, but now they feel that we had moved in right direction.
Referring to sale of KESC, he said that the buyer has assured to bring latest technology to overcome load-shedding and frequent failure of power.
He appreciated private sector and said that this sector is doing well and working more efficiently than government sectors.
The Prime Minister noted that with the induction of private sector in telecommunications sector number of mobile phones user touched 20 million.
He said that Pakistan offers best opportunities for both local as well as foreign investors due to low-cast labour, geographical location, improved law and order condition, etc.
Shaukat Aziz said the government was making efforts to improve logistics chain, introduce e-commerce, allow expansion as well as establishing new hotels etc.
He also urged business community to come forward and help the government in rebuilding earthquake-hit areas and added that over 74000 people were killed with a very large number became homeless.
The Prime Minister congratulated the winners of Site export awards.
Speaking on the occasion, Federal Minister for Industries Jehangir Khan Tareen urged the investors to establish industrial units in parts of the country other than developed cities like Karachi, Lahore, Faisalabad, etc.
He said that the government was trying its best to improve infrastructure to provide better investment opportunities.
Welcoming the guests, SAI chairman Dr Mirza Ikhtair Baig said that economic development could only be achieved through consistent, business-friendly, export and investment-oriented policies of the government.
He said it was necessary for the government to take into account the efficacy of facilities required for industrial growth through their good monetary, fiscal and trade policies, which the government is doing for the past six years.
The SAI chief said that the fiscal instrument is much more powerful than monetary policy, alike in respect of control of consumption. Monetary policy can, in the main, restrict expansion of economic activity only in the private sector, stringent use of such policy retains growth in the private sector without affecting, by and large, the tempo of investment in the public sector.
He said that out of total 13 billion dollars exports of Pakistan textile is about 67 percent or 8.5 billion dollars. Out of which Site alone contributed 2.5 billion dollars which is 20 percent of total exports of textile of the country.
He said to acknowledge this achievement Site selected on merit 22 companies and conferred on them export awards.
Later, the Prime Minister distributed the awards among the winners.