KARACHI, July 26: President Pervez Musharraf will soon finalize the National Finance Commission and all the four provinces will take a unanimous decision with a cool mind, Federal Finance Minister Shaukat Aziz said on Saturday.
He said this during a meeting with Sindh Chief Minister Sardar Ali Mohammed Khan Mahar in which they discussed various projects of Sindh, specially Karachi.
Later, the meeting was also participated by City Nazim Naimatullah Khan, industrialists, bankers, office-bearers of the Federation of Pakistan Chambers of Commerce and Industry, Karachi Chamber of Commerce and Industry, Karachi Stock Exchange and Association of Builders and Developers.
Unless a new (NFC) award was formulated, the old NFC “will remain in operation.”
Shaukat Aziz said that government sought to promote the housing sector by implementing the National Housing Policy, adding that the policy encouraged the construction of low-cost houses.
Public sector model projects in this regard would be encouraged, Mr Aziz said, adding that projects undertaken jointly by the government, developers, bankers and other beneficiaries would be encouraged and would not face any problems in acquiring loans.
Referring to the financial health of the KESC, Shaukat Aziz said that the government wanted to reduce power tariff but some 40 per cent power theft occur in Karachi.
He said that efforts were being made for better recoveries to stabilize KESC.
He said there was no dispute between the Sindh government and Wapda on payment of bills.
Chief Minister Sindh Ali Mohammed Mahar informed the meeting that Sindh Government was keen to extend maximum incentives to industrialists, businessmen and investors so that trade and industry to boost investment and control unemployment in the province.—APP
