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Industry being supplied more energy to boost exports: PM

Industry being supplied more energy to boost exports: PM

LAHORE: Prime Minister Muhammad Nawaz Sharif has said that Industry is being supplied more electricity and gas as compared to previous years in order to boost up export volume and generate employment.

He said this while addressing the 37th Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Export Awards distribution ceremony here.

“We will not only jack up the export volume but also create employment opportunities. The electricity supply to the industry, especially the power looms in Faisalabad, had ended unrest within the industrial sector,” he said.

The Prime Minister said that Pakistan could get optimal benefit from the GSP-Plus (Generalized System of Preferences) status by keeping the industrial wheel on the move, as a vibrant industry would increase resources, which would help ensure Pakistan’s development and nation’s prosperity.

“The country’s GDP growth was scaling up and revenue collection has improved substantially. The government has devised an effective policy for maximum supply of electricity and gas to the industry,” the PM said.

He added that industry was supplied more electricity and natural gas this year against the previous year. “Economic indicators were now improving that would ultimately ensure progress of the country and prosperity of the people. Nationalisation of industries was a major factor behind unemployment in Pakistan,” he said, explaining that it was not the job of the government to run businesses.

He said banks which had been privatised were paying billions in taxes while public sector banks which were previously in deficit were now turning out profits. The prime minister attributed the power crisis in the country to policies implemented during the past.

“I believe in more implementation and less promises. 10,000 MW power shortages could not be resolved in one day,” he concluded.