APP08-24 LAHORE: March 24 - Prime Minister Shahid Khaqan Abbasi addresses the inaugural ceremony of Fast CCV Cable Manufacturing Facilities Plant at Fast Cables. APP photo by Ch Mubarak Ali

LAHORE, March 24 (APP):Prime Minister Shahid Khaqan Abbasi Saturday expressed his confidence that the democratic system in the country would keep on flourishing as there was no room for judicial martial law or any other coup.
He was addressing the inauguration ceremony of first CCV line and aluminum alloy manufacturing plant in the Sunder Industrial Estate.
He said in the upcoming general election in July, only the electorate would decide about the fate of next government and their decision would be accepted while the country’s journey on the path of development and prosperity would continue.
The prime minister said the PML-N government faced energy and power challenges and the backlog of the previous governments, but it had solved the energy issues, with addition of 10,400MW of power into the national grid.
He said the government had been performing well during its tenure which was matchless and resolved the energy issues for the next fifteen years.
About 1,700 kms six lanes motorway network was being completed, he said and expressed his resolve to serve the country within the limited resources.
The prime minister also regretted that after 1999 coup, a case was registered against PML-N leader Nawaz Sharif for establishment of Sunder Industrial Estate.
He said it was an irony that those who served the country were punished instead of giving the respect and hounour.
He wondered about those people who were rejected in the last general election by public, were preaching morality and integrity.
He said Pakistan had the huge potential to increase its export products by adhering to global quality and standard which were requisite for global competition.
The government had taken steps for facilitating the private sector investment with different incentives which led to increase in the business activities and eventually boosted the exports, he said and added the investment activities paved the ways for creation of jobs and generation of tax revenues.
He said the government had provided gas, power and infrastructure facilities so that the cost of production could be reduced.
He stressed upon maintaining the quality and standards in the production by bringing the local products at par with the international competitors to attract investment in the country.
The prime minister observed that Pakistan was a market for billions of dollars investment and certain issues like tariff re-balance, cost of production and taxation system faced by the industry, would be resolved.
He announced that tax incentives package would be announced prior to next fiscal budget.
He emphasized that the private sector and government required working hand in hand to achieve export targets.
“Industries play a vital role in the progress and prosperity of any country, adding that we want to ensure stability of policies as continuity of policies is of high importance”.
Abbasi hoped that country’s industry would focus on improving quality as latest technology and efficiency not only help in growing business activities but also help earn good profit.
He said government was striving to achieve a balance in import and export through short and long term policies.
He said the availability of energy had been settled and the growth rate was hovering around 6% which would further surge.
The prime minister assured that the government wanted to further strengthen the investors’ policies by seeking input from the opposition.
He said the industrial estate in the provincial capital made him happy that work was being carried out here as per by-laws which investors always look for.
The prime minister appreciated the contribution of the private sector in meeting the energy demands of the nation and introducing new technologies for local manufacturing products to reduce reliance on imports.
He also congratulated Fast Cables for establishing state-of-the-art manufacturing facility and mentioned that
such projects play an important role in national prosperity through creating jobs.
Fast Cables Director Kamal Mian, in his welcome note, said the first CCV manufacturing facility could produce medium voltage cables upto 33 KV using the latest dry curing technology.
Minister for Commerce Pervaiz Malik, Minister for Kashmir Affairs Barjees Tahir, State Minister for Industries and Production Arshad Khan Leghari and Punjab Minister for Industries Sheikh Allaudin were also present on the occasion.
Fast Cables Chief Executive Officer Mian Ghulam Murtaza Shaukat presented a souvenir to the prime minster.