ISLAMABAD, Aug 29 (APP):Chaudhry Abdul Majeed, Chairman, of Faisal Town said that Pakistan has the potential to generate 100,000 MW of hydropower, which is a very cheap source of power generation.
Addressing a Business Role Model ceremony organized in his honor by the Islamabad Chamber of Commerce & Industry (ICCI), he urged the government to build small and medium-sized dams to produce hydropower in order to provide cheap energy to businesses and industry that would help boost the economy.
Ch. Abdul Majeed also called upon the government to ensure fair spending of tax money to improve the confidence of taxpayers and promote tax culture.
He said that 90 percent of loans taken by the country have been spent on non-productive activities due to which the Pakistanis now facing huge foreign debt of USD 140 billion and stressed that the loans taken by the country should be spent on productive projects that would generate economic activity and create jobs.
He said that if CDA facilitates, he is ready to develop an iconic project in the Capital that would be unique in Pakistan.
He said that the facilitation of investors is the way forward for Pakistan to grow as a strong economy.
He announced giving 100 plots to ICCI for giving them to deserving members at concessional prices. He also pledged Rs.10 million to ICCI for its welfare activities.