Daily Times

ISLAMABAD: President Mamnoon Hussain has stated that the government besides striving for the economic revival was also focusing on public welfare projects such as mass transit system and improvement in health and education sectors.

The president expressed these views while addressing the Lahore Chamber Achievement Award distribution ceremony held here at the Aiwan-e-Sadr on Wednesday night. He said after the completion of Metro Bus service in Lahore and Islamabad, the work was also underway for the new mass transit projects in Multan and Karachi.

He said the overall situation in the country was improving due to the government’s prudent economic policies, adding, the situation would improve further in the coming days. He said after the operationalisation of China Pakistan Economic Corridor (CPEC), Pakistan will emerge as an important country of the region in terms of increased foreign investment and augmented business activities.

He said terrorism and law and order situation had been the major hurdles in the way of foreign investment and business activities in Pakistan, adding but now due to the measures taken under the National Action Plan, the back of terrorists has been broken.

The president said owing to improved situation and the government’s liberal economic policies, investors from a number of friendly countries were showing interest in having joint ventures with Pakistani companies and entrepreneurs.

He said Pakistani businessmen should benefit from this situation and explore new markets in Central Asia, Africa, Far East and Latin America, as governments and private sectors from these regions were interested to have enhanced business interaction with Pakistan. He said as the government was also formulating a comprehensive policy in this respect, the industrialists and exporter should benefit from it.

He said energy shortage has also remained one of the major obstacles in enhancing the level of exports, adding, but the government has succeeded to some extent in tackling this challenge as well, which was a historic achievement.

Mamnoon urged the private sector to invest in the power infrastructure projects so that transmission of electricity could be ensured across the country. He congratulated the winners of LCCI Achievement Award 2016 and appreciated the businessmen from Lahore for effective contribution in the country’s economy.

The president on this occasion distributed achievement awards among the selected entrepreneurs from Lahore. Lahore Chamber of Commerce & Industry (LCCI) President Shaikh Muhammad Arshad and Senior Vice President Almas Haider also addressed the ceremony.