Terror, economy major challenges for new Govt, says President

ISLAMABAD—President Pervez Musharraf has observed elimination of terrorism, economic growth and political stability will be potential challenges for the incoming government stressing the new government will have to make these challenges part of its priority list. .
“ The majority party which will form the government after transfer of power will have to counter major challenges like eradication of terrorism, economic development and political stability. It will have to make these challenges part of their priorities”, he said this while addressing first convocation of Pakistan Institute of Development Economics here Tuesday.
He strongly condemned Lahore bomb blast saying it was a brutal act of the extremists. Those hatching conspiracies don’t want peace prevails in the country and democracy takes roots. They are maligning Islam and Pakistan and any conspiracy on their part would not be allowed to succeed, he warned.
President declared he was looking forward to work with the new government with good intent. “I want good working relationship with the new government so that the government affairs could be run amicably.
Certain elements were trying to sabotage the democratic process, he said adding these would not be allowed to succeed. Democracy will be made stable. “I have delivered my pledge to hold fair and transparent elections”, he added. Decision has also been taken to summon national assembly on March, 17, he told.
Following the transfer of power the new government will have to work for the economic uplift of the people by taking into consideration their priorities. These priorities include cut in prices of petroleum products, continuation of privatization program and construction of new water reservoirs, he added. He stressed the new government would have to allow subsidy on several commodities. It will have to take steps to curtail fiscal deficit, he added.
Country was passing through critical phase, he said adding economy was under pressure. “We will have to take realistic decisions keeping in view the ground realities, he urged.
President Pervez Musharraf Tuesday said the new government faced daunting challenges of rising fuel and food prices and said bold decisions need to be taken to address these issues. Addressing the first convocation of the Pakistan Institute of Development Economics (PIDE), President Musharraf advised the new government, scheduled to assume power next week, to reduce the subsidies, but ensure relief to the poorest segments of the society.
The President also announced at the forum the decision to convene the session of the new National Assembly on March 17 (Monday), amidst a loud thumping from the gathering. He said the country was passing through “critical times” and stressed the need for understanding the pressures the country was facing. The President pointed at the sharply increasing prices of fuel, edible oil and wheat in the international market and said these challenges need to be addressed very boldly.
“But make sure that the poorest of the poor get relief through targeted interventions,” he added. He said the country was spending huge foreign exchange on import of oil, that was being used for power generation.—Agencies