Punjab agrees to allot land for setting up 'China Town'

[LRE]

Punjab agrees to allot land for setting up 'China Town'
RECORDER REPORT
LAHORE (November 09 2008): The Defence Minister, Ahmad Mukhtar has said that Punjab Chief Minister, Mian Shahbaz Sharif has agreed to provide land for setting up of 'China Towns' in the province wherein industrial units, under joint venture, would be established by the Pakistani and Chinese businessmen.

Speaking at the zonal office of the Federation of Pakistan Chamber of Commerce and Industry, (FPCCI) on Saturday evening, he urged the business community to manufacture auto-parts through reverse engineering. He said the days of subsidies have gone and now the businessmen should only ask for their rights rather than begging.

The government cannot eliminate 24 percent inflation completely but it is taking different measures that would result in reduction of inflation to minimise the negative impact on general public, he added.

The Minister said the trade of weapon and ammunition is ahead of all goods, thus the government is attaching priority to this vital sector. The export of non-traditional items has been increased by 20 percent while the performance of textile sector remained unsatisfactory, he said. Talking about the power shortage, he said that Wapda owed Rs 175 billion to the oil companies, while the rising oil prices internationally and the dollar's appreciation have added to the energy issue.

The country had to suffer severe load shedding mainly because of water shortage in reservoirs, while the government had to maintain water reservoirs to meet the requirement of wheat-sowing. However, the government would be able to curtail power shortage to the tune of 3800 MW by the year 2009.

If the oil prices stay unchanged at the present level, we would be able to overcome energy issue, he maintained. Mukhtar said that President, Asif Ali Zardari wants eradication of horse-trading the country and that was why he gave the portfolio of Finance Ministry to Ishaq Dar of Pakistan Muslim League-Nawaz.

Further, he stressed that the PML-N government should remain intact in Punjab, which is necessary for uprooting horse-trading. The Defence Minister further said that Pakistan was fighting war against unknown enemies, which needs to be continued in any case. 'Army cannot fight this war alone therefore public has to support it,' he said.'Pakistan cannot check drone attacks, as we do not have surface-to- air missiles to counter drone's missile attacks in tribal areas,' he maintained.

The USA is spending $350-450 million on development of infrastructure in Reconstruction of Opportunities Zones (ROZs) in the northern areas and NWFP and would also make the area safe for investment, he said. The Zonal Vice President, FPCCI, Azhar Saeed Butt also spoke to the gathering.

Copyright Business Recorder, 2008