CM vows all-out facilities for foreign investors

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LAHORE - Punjab Chief Minister Shahbaz Sharif has vowed to provide all-out facilities to the foreign investors and said that investment in all development sectors would be welcomed.†

He said under a comprehensive policy, the government would provide protection to the investors in private sector. He said the government is committed to overcome all the challenges including energy crisis and terrorism.

He was talking to American company OPICís Chief Executive Elizabeth Littlefield who met him along with her delegation in Islamabad on Tuesday. Besides US Ambassador to Pakistan Richard Olson, Provincial Minister for Energy Ch Sher Ali, Secretary Energy Usman Akhtar Bajwa and Punjab Board of Investment and Trade Vice Chairman Syed Maratab Ali were also present on the occasion.

Shahbaz said that Pakistan has faced the worst crises of loadshedding and terrorism during the last five years which badly affected the overall economic condition of the country. He said due to the loadshedding, the countryís industry, agriculture and other development sectors, particularly in Punjab badly suffered.

The CM said the present government is determined to rid the country of economic and energy crises. He said that foreign investors are being contacted for implementation on various projects in energy, infrastructure and other development sectors.

He said that private sector is being strengthened and American investment particularly in energy sector would be welcomed. The Chief Minister said that besides launching new energy projects, the government has adopted a strict policy for eradicating electricity and gas theft and stern action is being taken against the elements involved in such negative activities. Shahbaz said that besides long term hydle projects including Bhasha Dam, the government is working for generating 100 megawatt solar energy and 1,000 megawatt electricity through coal. He said the government is also launching energy generating projects with the cooperation of private sector through biomass technology. He said the private sector would have to come forward in power generation. He said that an investment fund would soon be established in the province for encouraging the private sector. The CM said that all possible facilities would be provided to investors in energy and other sectors under one-window policy.

The OPIC Chief Executive Officer said that the new governmentís policy with regard to setting up new projects in energy sectors is positive and there are vast opportunities for foreign investors in Pakistan, particularly Punjab. She disclosed that her company is also considering for investment in the energy sector and other projects, and a team of experts would soon visit Pakistan for the purpose.

Courtesy: † Nation

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