National News

President Mamnoon Hussain said governments and rulers come and
go but the state lasts and this reality is the foundation of the
whole system. Despite having political differences, we should not
allow the economy to be adversely affected as only a strong economy
can ensure a strong Pakistan, he added.
He suggested that the nation should unite on the agenda of
economic stability for continuity in economic policies in all
situations. “I am confident that our political parties and other
stakeholders will soon agree upon this national agenda,” he added.
He said economic stability and self-reliance should be the
goal of every government, adding that bold economic decisions and
construction of economic corridor are the first steps towards this
objective, which when completed will not only enhance regional
connectivity but will also help in developing infrastructure.
“The objective of economic stability will remain a pipe dream
until we are self-sufficient in energy production. That is why
electricity generation projects have been incorporated in the
Economic Corridor, which are now producing positive results,” the
President said.
He said electricity generation has increased and improvement
in distribution system has provided relief to the people. He hoped
that by 2018 we will be able to overcome the energy crisis after
completion of all electricity projects.
The depletion of natural gas reserves is one of the main
reasons behind the energy crisis, he said, adding the LNG import
from Qatar has helped to overcome the declining industrial
production, which has saved public and private investment from
sinking besides providing employment to a large number of people.
However, he said we should continue to find alternative
sources of energy including hydel, solar, wind and coal etc to
fulfill our energy needs. In this respect, he proposed to focus on
producing electricity from the water channels in Gilgit Baltistan,
Azad Kashmir and other Upper areas because these sources can provide
us cheap and abundant electricity.
The President emphasised that along with construction of
Diamir Basha and Dasu dams, government should also pay attention to
smaller hydel projects. In this process, mid-level investors may be
induced to participate in such cheap electricity projects and Gilgit
Baltistan should be linked to the national grid, he added.
In addition to increase in electricity production, he said,
there is also a need for investment and improvement in the
distribution system.He said If investors are allowed to distribute
electricity in their investment area, it will not only attract
further investment but will also lead to substantial improvement in
the production and distribution of electricity.
The dream of national development will materialise only when
there is peace and conducive business environment in the country so
that investors are able to invest without any fear, he added.
The President expressed confidence that efforts for restoring law
and order in different areas of the country, particularly in
Waziristan, Balochistan and Karachi, have produced satisfactory
results and rate of economic development has improved.
“I am confident that we will be able to achieve the objectives
of Zarb-e-Azb by the end of this year and attain internal peace and
security. It is important for us to concentrate on consolidating the
gains made in these operations and the civil administration should
take upon the responsibilities in these areas to re-establish its
writ,” he added.
While avoiding repeating bitter mistakes of the past, the
President said that special plans should be chalked out for the
entire country, particularly for the affected areas. The affected
traders and investors should be adequately compensated to enable
them to recover their losses and start their businesses afresh in
order to restore normalcy in these areas, he added.