Prime Minister Nawaz Sharif expressed confidence today that Pakistan will overcome its longstanding energy crisis in the next three years.
Sharif said at the opening of the ninth Expo Pakistan here that this was the best time for foreign investors to invest in Pakistan.
"The economic environment is improving quickly and we are trying to encourage foreign investment since I can tell you the prevailing energy crisis will be resolved in three years time," he said.
"I can assure in three years time there will be ample electricity available to industrial and household owners. Our goal is not only to provide electricity but also to lower the cost of its production," he said.
Describing the Expo Pakistan 2015 as the biggest ever trade fair, Sharif said his government wants more industries to be set up in the country and was working on setting up LNG-based power generating projects.
"We are setting power producing units with the help of China by the end of 2017 and construction in this regard has already started. 3,700 megawatts would have been added to the grid," he said.
He said the projects to produce more energy would be funded by the government and would not be dependent on private sector or bank loans.
Sharif said his government wanted to make Pakistan a prosperous country free of terrorism or militancy.
"That is why we will now not step back from this war against terror. It is imperative we push ahead if we want to make Pakistan prosperous," he said.
He said that the country's exports for the year 2013-2014 stood at USD 25 billion and added that, "We hope exports will reach USD 50 billion in the next three years as the situation in the country improves day by day".
The premier said that, "The country's textile policy has been reviewed and exports in the textile sector will increase from USD 13 billion annually to USD 26 billion annually by the year 2019".
Sharif said that implementation on the South Asia Free Trade Agreement (SAFTA) is underway from which all SAARC countries are reaping benefits.
The last Expo Pakistan held in 2013 was highlighted by the participation of a large number of local and foreign buyers who sealed business deals estimated at USD 1 billion as compared to deals estimated at USD 690 million the year before.
