Pakistan becoming Trade, Manufacturing Hub in Region: Musharraf
By Aziz Malik ‘Pakistan Times’ Federal Bureau Chief

ISLAMABAD: President General Pervez Musharraf has said that with opening of all economic sectors, investment-friendly policies, conducive environment and geo-strategic location, Pakistan can serve and is fast becoming trade and manufacturing hub in the region.

"Pakistan can serve as a trade hub for the region owing to its geo-strategic location and provides cheap labour and ideal environment for setting up industrial units", the President said in an interview with ARY-One World.

To a question as if he wants to see Pakistan a manufacturing or a trading nation, the President said, his strategy was to make the country a manufacturing nation, as it was industrial sector which helps reduce poverty, creates jobs and checks unemployment.

The President said, Pakistan's trade and economy were based on agriculture sector, adding but only 6 percent of the world trade is driven by textile sector, with 61 percent by the manufacturing, engineering and heavy industries.

He said, "we have to make a gradual shift from agriculture to industrial sector" with efforts to strengthen the manufacturing strategy being implemented since 2000.

To another question, President Musharraf said, there was a need to have a combination of export- orientation and import substitution industries to give boost to exports and check imports.

He said, if Pakistan will have a strong industrial base it will help curb poverty through employment generation.

Asked as if the country would depend on imported raw material in manufacturing sector, the President said, the country has a lot of potential in raw material and we have to explore and exploit this potential for industrial requirements.

He said that the dispute resolution between Pakistan and India could also help reduce the problem of raw material, as the two sides can benefit from each others potential.

To a question, the President said the foreign investment was coming in various sectors including services, IT, energy sector.

President Musharraf said, cement industry was also attracting investment and mentioned a recent $ 100 million investment in this sector.

He said, the country's hotel industry was attracting lot of investment and four to five new hotels are opening in Islamabad alone, adding, the occupancy in hotels in the capital was over 90 percent.

The President said Pakistan will be setting up nine modern universities to prepare future manpower that can meet the future challenges.

Prices of Commodities

About the rising prices of everyday commodities and the recent increase in sugar and cement, President Musharraf said the government was fully alive to the situation and taking corrective measures.

About the sugar he said its prices increased sharply in the international market.

He said there were certain cartels who manipulate at time and stressed more regulations to counter such trends.

The President said increase in interest rates was directly related to inflation and said more fine-tuning was required to control inflation while keeping the interest rates down.

The President said owing to prudent economic policies, the deficit financing has declined and with improved measures the base of taxpayers was being increased.

He said the CBR needs to be given the credit for increasing revenues but agreed that much more needs to be done.

The President said corruption was a national problem and all measures were being taken to ensure that honest and capable people were appointed to improve working of all institutions.

To a question about terrorism, the President said it was a serious threat and efforts were being taken to address the issue.

He also expressed concern over the Talibanization and said Islam in fact was an enlightened religion and preached love, brotherhood and tolerance.

He said Pakistan was pursuing a middle course that moved on to the path of modernisation. He rejected that it has anything to do with westernisation as was being propagated by the extremist elements.

The President spoke of the numerous sacrifices it has paid for fighting the terrorists and extremists.

To a question about President's election, he said, it would be according to the constitution.

Express Road along Leh

According to another report, President General Pervez Musharraf Thursday approved construction of a Rs. 14 billion two-lane signal-free road from Chaklala to Katarian along either side of Leh nullah on a fast track basis.

The approval was accorded after a presentation by the Engineer-in-Chief of Pakistan Army, also attended by Minister for Railways Sheikh Rashid Ahmad, District Nazim Rawalpindi Raja Javed Akhlas and senior officials.

The President directed the uplift of Rawalpindi city and removal of disparities between the twin cities of Rawalpindi and Islamabad in civic facilities. He also asked the authorities to simultaneously take up the sewerage disposal and treatment project.

General Pervez Musharraf said the Leh nullah road project, to be initiated soon, will address the issues of traffic congestion, environment and mitigate the floods, which have resulted in loss of lives and property in the past and have been a source of concern for the people of Rawalpindi.

The President was informed that there will be no acquisition of land involved in the project and minor encroachments will be re-located. It will be the largest infrastructure and development project in the city.

The Engineer-in-Chief's branch of Pakistan Army and Frontier Works Organization would be participating in the project for its early completion and to ensure quality of the work.

The Leh nullah, once a fresh water stream, has turned into a serious environmental issue as all the sewerage water of the twin cities passes through it and is a source of flooding in the adjoining localities, particularly during Monsoon.●