Zardari terms energy shortage ‘mother of all ills’

Insists country has become attractive place to do business.

LAHORE: Describing energy shortage as mother of all ills, President Asif Ali Zardari has stressed that the government is taking all possible measures to overcome the scarcity and the business community should assist it in achieving economic goals as well as progress and prosperity.

“Pakistan Peoples Party government is taking long-, medium- and short-term measures to bring the economy back on the rails. The continuous support and cooperation extended by the business community has significantly improved revenues, which gives me immense satisfaction,” he said.

He was speaking at the 8th Achievement Awards, organised by the Lahore Chamber of Commerce and Industry (LCCI), at the Governor House here on Friday. He also gave away awards to leading businessmen on the occasion.

Zardari said Pakistan had become a profitable land to do business in, thanks to well-tailored and well-consulted policies, and it had won preferential access to the European market, which would go a long way in strengthening the economy.

Highlighting the contribution of industrialists, the president pointed out that entrepreneurs helped make the state economically viable as the country had inherited a negligible industrial base at the time of independence. Accelerated growth had been achieved with the cooperation of the business community, he said.

Zardari said the government was getting the assistance of private sector in the form of public-private ventures and the impact of improving economic indicators would soon reach the people, which would ultimately reduce the gap between haves and have-nots.

“Our businessmen are writing new success stories with their sheer commitment and dedication despite all odds,” he remarked and expressed the optimism that the entire business community would work hard to cope with new challenges.

Speaking on the occasion, LCCI President Irfan Qaiser Sheikh underscored the need for consistency in policies for the economic well-being of the country.

He boasted that the business community had a remarkable capacity to succeed –partly due to their initiatives and efforts and partly due to the country being blessed in many respects.

He expressed the hope that the new phase of trade liberalisation with India would potentially open an array of business opportunities for Pakistan’s businessmen. “However, we need to ensure that the sectors and companies exposed to tough competition from across the border get the level playing field.”

He said though Pakistan had vast natural resources, it should act smartly and responsibly in exploiting the resources to achieve high long-term growth and improve
living standards.

Published in The Express Tribune, September 15^th, 2012.