Pakistan has embarked on path of high growth economy: PM

ISLAMABAD, Nov 4 (APP): Prime Minister Muhammad Nawaz Sharif
on Wednesday said Pakistan had now embarked on the path of high
growth economy and was heading towards a bright future for its
people.
Addressing the international investors conference here, the
Prime Minister said his government had achieved most of the
objectives in the past two and a half years as was evident from the
overwhelming support it got in the recently concluded local bodies
polls, where the people endorsed the PML-N’s policies.
The Prime Minister gave an overview of the achievements of his
government, since he took over and said not only the country’s
economy was on a strong footing, but also it was successfully
meeting the challenge of extremism, terrorism and the chronic energy
shortages.
He said difficult decisions on vital national matters were now
being taken with consensus and the country’s democratic institutions
would continue to get stronger in the times ahead.
Sharif said huge investment was pouring in the energy sector and
several new projects were in the pipeline that would be commissioned
soon.
The prime minister mentioned the projects in solar, hydel, coal and
nuclear, besides the three new power generation plants that would be run with imported Liquified Natural Gas.
He also mentioned the Tarbela upgradation project, besides the ongoing
work on Dasu dam and said country’s energy sector was growing robust with each passing day.
He said the projects would enable the country to meet its
energy needs for the next decade and expressed his optimism that
loadshedding would end by the year 2017.
The government, he said, also settled the Rs 40 billion circular
debt issue soon after coming into power.
Nawaz Shaif said the government had also increased the well-head
price for the oil and gas exploratory companies, while new terminals for
LNG have been set up.
He mentioned the inking of the Rs two billion agreement with
Russia for the construction of the North South gas pipeline that
would carry 1.2 million cubic feet of gas daily.
He said another gas line was being built from Gwadar to
Nawabshah and more gas was being imported to meet the
requirements of country’s vibrant industrial sectors.
The Prime Minister said the government had also slashed its
expenses by 30 per cent, while the fiscal deficit too had been
brought down from 8.8 per cent to around 5 per cent, inflation was
less than 2 per cent and interest rates were at their unprecedented
lowest levels.
Prime Minister Sharif said it was just the beginning and the
nation had embarked on a path of progress and prosperity.
He said the operation Zarb-e-Azb was progressing successfully
and reiterated his resolve to rid the country of the cancer of
extremism and terrorism.
He said Pakistan desired good neighbourly relations and wanted
increased regional trade and investment. In this regard, he also
mentioned the CASA 1000 and TAPI gas projects.
The Prime Minister said the goal of his government was to have
a progressive society where its citizens get quality healthcare,
education and all facilities of life. He said Pakistani nation was
forward looking and enterprising and would soon attain a higher
place in the comity of nations.
The Prime Minister also mentioned the Rs 100 billion social
sector development, under which several programs were being run for
the empowerment of the youth and particularly the woman.
He spoke about the loans available to the needy students for
higher education and for starting their own business ventures.
He said the country would soon have a highly improved road
linkage, enabling people to drive in few hours from Lahore to
Karachi, ample availability of electricity and gas, high speed
internet, efficient goods transportation systems.
He said 25 industrial zones would be established along the
three routes of the China Pakistan Economic Corridor and pointed
that China was investing US 46 billion in various sectors of the
country.The conference was attended by prominent businessmen and
corporate leaders.