President hints at unveiling new dams plan soon

KUWAIT CITY—President General Pervez Musharraf has said he will soon address the nation and announce the decision on construction of major water reservoirs. “I will take the nation into confidence on the matter of construction of new water reservoirs so that growing energy needs of the country for its sustained economic development are met. I will soon address the nation and announce about the decision on building water reservoirs”, he said this while addressing a larger gathering of Pakistani nationals here Sunday.
Sounding optimistic on the growing economic activities in the country he said that all the economic indicators are positive and the prudent policies pursued by the government had led to economic stabilization in the country. Talking about NATO forces in the country he said that no one should have objection on the presence of these troops as they had extended full cooperation in the relief activities in October 8 quake battered areas and played pivotal role in the reconstruction and rehabilitation of quake survivors. NATO forces will return on the appointed time.
Regarding rehabilitation work he pointed out that government would construct houses costing Rs 200.2 billion for the affectees in the quake stricken areas. All the facilities including schools, hospitals and other amenities will also be made available there. Pointing to water and power problems facing the people he said that country lacked water and electricity facilities. Government is committed to provide electricity to all the remote areas of the country till 2007. Safe drinking water is not available to people due to lack of water reservoirs in the country, he said and reiterated that a major dam is urgently needed to overcome this shortage. “I will soon take the nation into confidence on this issue”, he told. Citing to terrorism and extremism he said we are fully opposed to terrorism and we want to stamp out extremism from the country. He regretted that one sect called itself Muslim and other Non Muslim in the country. “Tell me who is faithful and who is infidel. We will crush sectarian terrorism and cleanse the society from this menace”, he vowed. He thanked the international and Pakistani communities for providing assistance for the quake affectees in Pakistan hoping that they would continue to provide relief assistance till the reconstruction and rehabilitation of quake victims.
President General Pervez Musharraf Sunday said Pakistan would continue its journey on the path of high economic growth, despite soaring international oil prices and October’s devastating earthquake. “Pakistan’s economy is doing very well and the rising prices of oil in the international market and the October 8 earthquake will not have any negative impact or retard its upward swing,” he told the Kuwait-based Pakistani community on the second day of his visit to the Gulf country.
President Musharraf gave an overview of the country’s economy which registered 8.4 per cent growth during the last fiscal year with the government targeting 6 to 8 per cent growth in the next five years. He said Pakistan’s economy was stable and all economic indicators were positive. Referring to the growing confidence of the foreign entrepreneurs in the country’s economy, President Musharraf said Pakistan received 1.5 billion dollars investment this year while the government was eyeing to increase it to three billion dollars in the next few years. Pakistan’s exports were on the rise and, from 7.86 billion dollars a few years ago, the country was touching nearly 17 billion in exports this year, he added.
On increasing imports, the President said it was due to the import of machinery, chemicals and metals which showed that industrial activity was picking up pace. The President mentioned about the spectacular rise in the remittances’ inflow which posted 400 per cent increase during the last few years and stood at 4.2 billion US dollars annually. He urged the Pakistani expatriates to send their remittances through banks instead of informal channels. President Musharraf told overseas Pakistanis that as a result of prudent economic policies the gap between earning and spending has been reduced and the per capita income has increased to 791 US dollars.—APP/Online