PM for boosting exports by 30pc to support balance of payment

ZAHEER ABBASI

ISLAMABAD: Prime Minister Nawaz Sharif has underlined the need for increasing country's exports by 25 to 30 per cent from the next year to support the balance of payment. In this regard he hinted at the possibility of announcing an amnesty scheme for industry/traders. Addressing Export Awards ceremony of the Federation of Chambers of Commerce and Industry (FPCCI) at Pakistan-China Friendship Centre here on Thursday, the Prime Minister came down hard on Pakistan Tehreek-e-Insaf (PTI) for sit-ins and Pakistan People's Party (PPP) for "doing nothing" to deal with the problems of load shedding during its five-year tenure. "You must seek answers from these parties either now or in the 2018 elections," the PM added.

The Prime Minister was requested by the industry/trade for the introduction of another amnesty scheme upon which he stated that he would consider their proposals. He said that Pakistan's exports in November increased by 6.2 per cent and with improvement in energy as well as zero-rating incentive to five exporting sector, these must soared by 25 to 30 per cent by next year. He said the government has already made industrial sector load shedding free and now it would also prepare a strategy to reduce the cost of electricity for industrial sector.

The Prime Minister said the government's emphasis would now be on growth and the government would provide all incentives to the industry to achieve a higher growth in the country. He said the industrial sector must take benefit from the improvement in the electricity situation and a decline in incidents of extremism.

Nawaz Sharif said the government inherited challenges of load shedding and extremism after the 2013 elections and without wasting any moment it started work on a strategy. The Prime Minister said that time was required to fix the mistakes of the past and some of them are still to be fixed even after three years as past failures were not small ones. There was an uphill task to deal with 18 hours-a-day to load shedding challenge.

The Prime Minister said there would be no load shedding in the country by 2018. There are CPEC and non-CPEC power plants in the implementation stage and 3,600MW LNG plants would also be ready by the next fiscal year.

He said the people who were responsible for the problem must be held answerable as neither the Musharraf regime nor the Pakistan Peoples Party (PPP) government added electricity to the system. He said he as chairman of the Cabinet Committee on Energy (CCE) held a number of meetings to deal with the problem.

He said Karachi is also a "small challenge", which is also being dealt with in an effective and meaningful manner. The operation to restore peace in Karachi would continue and its stature of country's major business hub would be further boosted, he added. The government is laying greater emphasis on the development of Baluchistan, he said and added that Gwadar Port has turned into a game changer and is being linked with country's major trade centres as well as China's.

He said the government had allowed PTI to form its government in KPK even though his party was in a position with its allies to form a government. This, he said, has exposed the PTI and "there is no new Pakistan in the making in KPK." The Prime Minister said besides major road development projects, the government is extending the six-lane motorway from Karachi to Peshawar, adding that various sections are already complete, while work on the remaining sections is in various phases of completion.

Minister for Finance Ishaq Dar said the country has made remarkable progress in economy. The economy has been stabilised and it has been acknowledged by leading global financial institutions. Dar said another 10,000MW of electricity would be added to the national grid by March 2018, and this would fulfil yet another promise of the Prime Minister that he made with the people of the country. Later, the Prime Minister handed over Export Award trophies to different industrialists for their performance