Overcoming energy crisis is essential for investment:Shahbaz Sharif

Lahore: Punjab Chief Minister Muhammad Shahbaz Sharif has said that investment in the country can be promoted by overcoming energy crisis and improving law and order. He said that the promotion of investment is essential for strengthening of national economy and creation of new job opportunities.

The Chief Minister said that economy can be revived through effective and solid economic policy. He said that Pakistan is rich in resources and also has talent and brains and it is time for them to come forward and present practicable proposals for resolving energy crisis and other problems. He said that instead of mere speeches, practical and meaningful measures are the need of the hour.

He was addressing the inaugural function of CEO Summit Asia 2013 at a local hotel today. Former caretaker federal minister Sohail Wajahat, Atif Bajwa, Khalid Awan, Ijaz Nisar of Alfalah Bank and CEOs of various companies were present in large numbers on the occasion. The Chief Minister also performed the launching ceremony of the book “100 Business Leaders”. The Chief Minister said that he was pleased to address talented people and brilliant brains who are rendering glorious services for their organizations but it is time for them to contribute to the development and progress of the country. He stressed upon CEOs to put forward practicable proposals and support the government for progress and prosperity of the country and ridding it of the problems.

The Chief Minister said that loadshedding is the biggest challenge being faced by Pakistan and it can be overcome only with collective wisdom, tireless efforts and determination. He said that there is a need to make short, medium and long term planning to cope with the challenge of shortage of electricity. He said that industrialists, traders and businessmen will have to come forward and play their role for this purpose.

Shahbaz Sharif said that early solution of energy crisis is essential for promotion of investment and solution of the problems being faced by the country. He said that a solution to the problem of shortage of energy will have to be found through mutual consultation. He said that PML-N government is working day and night to resolve energy crisis. He said that power-theft and line losses can be controlled through political will.

The Chief Minister said that use of electricity without paying the bill is totally unjustified and intolerable. He said that the machinery of Nandipur Power Project is rusting due to corrupt thinking of the former rulers and had this project been executed on time it would have been cost Rs.22 billion but now its cost has risen to Rs.57 billion which a poor country like Pakistan cannot afford. He said that there is a need to eliminate the cancer of corruption.

Shahbaz Sharif said that law and order situation in Punjab is better but for the purpose of promotion of investment, law and order situation in the whole country will have to be improved. He said that modern policing system will be introduced in Punjab and benefit will have to be taken from the experiences of Dubai and Turkish police. He said that the police system of Turkey is splendid and Turkish police is free from corruption.

The Chief Minister said that the model of Turkey will be adopted and police system of Punjab will be improved. He said that modern technology will be utilized for this purpose which will help eliminate crimes. He said that Punjab Investment Board has been constituted for the promotion of investment in the province and it is taking measures for providing facilities to investors. He said that public-private partnership will be encouraged and the best investment climate will be created.

Shahbaz Sharif said that foreign investment can come to the country only if Pakistani investors also invest. He said that Turkish companies have  invested in Punjab and their investment has been given due protection. He said that a delegation of CEOs of different companies should be constituted which should evolve a strategy with the Punjab government for resolving energy crisis and other problems.

The Chief Minister also performed the launching ceremony of the book “100 Business Leaders” and distributed copies of the book among CEOs. He also gave detailed and logical answers to the questions of CEOs.