Pak to resolve energy crisis in three years time

YarnsandFibers News Bureau 2015-02-26 15:00:00 – Karachi

Prime Minister Nawaz Sharif at the opening of the ninth Expo Pakistan in Karachi said that this was the best time for foreign investors to invest in Pakistan, as the economic environment is improving quickly and expressed confidence that the prevailing energy crisis will be resolved in three years time.

He assured in three years time there will be ample electricity available to industrial and household owners. Their goal is not only to provide electricity but also to lower the cost of its production.

Describing the Expo Pakistan 2015 as the biggest ever trade fair, Sharif said that his government wants more industries to be set up in the country and was working on setting up LNG-based power generating projects.

They are setting power producing units with the help of China by the end of 2017 and construction in this regard has already started. 3,700 megawatts would have been added to the grid. The projects to produce more energy would be funded by the government and would not be dependent on private sector or bank loans.

His government wanted to make Pakistan a prosperous country free of terrorism or militancy.

He said that the country's exports for the year 2013-2014 stood at USD 25 billion and added that they hope exports will reach USD 50 billion in the next three years as the situation in the country improves day by day.

The country's textile policy has been reviewed and exports in the textile sector will increase from USD 13 billion annually to USD 26 billion annually by the year 2019.

Sharif said that implementation on the South Asia Free Trade Agreement (SAFTA) is underway from which all SAARC countries are reaping benefits.

The last Expo Pakistan held in 2013 sealed business deals estimated at USD 1 billion.

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