The government is introducing a program intended to utilize Pakistans own resources for power generation to end the menace of load-shedding and decrease dependency on imported fuel, Minister of State for Petroleum Dr Musadik Malik said.
The textile industry is the strength of the economy and remedial measures to overcome the challenges are being taken to improve this sector, the minister said while addressing the 36th Annual General Meeting of Pakistan Textile Exporters Association.
The event was also attended by Prime Ministers Coordinator on Commerce & Industry Rana Ihsaan Afzal and former State Minister for Interior Talal Chaudhry.
Speaking to the exporters, Dr. Musadik Malik stated that the government is devising a roadmap to utilize local assets for power generation; under the initiative, our own resources will be used to generate energy. The countrys local gas deposits were depleting at a rate of 10% per annum thus, new wells should have been dug years ago, he added.
Because of the investor-friendly environment, local and foreign investors are investing in Pakistan. The increasing investment in Pakistan is a sign of confidence in the governments economic policies. A country could not achieve economic targets without the due role of exporters, the minister stated, adding Pakistan has a very bright future and all resources will be mobilized for converting Pakistan in line with the Premiers vision of an economically stable and strong Pakistan. The government is dedicated to facilitating industrialists and investors by all means for enhancing economic activities and increasing employment opportunities.
Meanwhile, Prime Ministers Coordinator on Commerce and Industries Rana Ihsaan Afzal Khan stated that different rapid industrial transformation initiatives are being carried out for sustained growth and development of the economy by improving industrial competitiveness.
Rana Ihsaan called the master plan a landmark initiative that might help reorient the needs of the current era of competitiveness both in the local and global markets and help export sectors in increasing competitiveness and achieving higher productivity.