Thar Coal Power Plant Project can produce the cheapest electricity for the next 400 years, claimed Minister of Planning, Ahsan Iqbal while addressing an event of Pakistan Business Council (PBC) in Islamabad on Thursday.
During the event named, “Private Investment and Reaping Benefits from CPEC”, he said that China assisted in Thar Coal when no other country was ready to invest in Pakistan. He appreciated China’s support over the years and highlighted the country had provided $29 billion during the previous five years.
Commenting on the economic meltdown, Ahsan Iqbal blamed the previous government for inconsistent policies and neglection of the China-Pakistan Economic Corridors (CPEC). He said,” The previous government had brought out the defects in the CPEC in two years.”
He assured that the incumbent government was fully committed to resolving all problems that had arisen during PTI’s tenure regarding CPEC and attempts are being made to solve the problems of Chinese companies including the visa problems of employees.
The coalition government, since it assumed power has focused on reducing imports and increasing exports to bring natural stability to the economy. The Minister revealed that the Chinese Government was ready to assist in the implementation of the current government’s policy by further increasing the annual exports to China. Currently, Pakistan’s exports to China lie at $2 billion per annum.
Nevertheless, Pakistan has to stabilize its politics, he said, as no country will be willing to invest with the current uncertainty and polarization of opinion in Pakistan. He also remarked that the country’s economy had experienced a rollercoaster ride during its 75 years and now the government had to underline the previous mistakes to figure out a possible solution to the current crisis.
Minister of State for Finance, Dr. Ayesha Ghaus Pasha also addressed the event saying that the government had to understand the fragility of the situation to deal with it.
She remarked that there was too much political, ethnic and sectarian division in the country which retarded economic development. Even after 75 years of formation Pakistanis have to managed to end their difference, she claimed.
