MIRPUR MATHELO, Oct 24: President Gen Pervez Musharraf on Friday said the goal of poverty alleviation could be achieved by focusing on the agriculture sector.

He was speaking at the inauguration ceremony of the third Rs8.15 billion urea plant of the Fauji Fertilizer Company in Mirpur Mathelo, Ghotki district.

The president said being mostly dependent on the farm sector Pakistan could achieve economic prosperity by bringing about improvement in the sector.

He hailed the FFC for contributing towards poverty alleviation and economic revival.

“I am very happy to note that the FFC is contributing towards poverty alleviation and economic revival which are focal points of our government,” he said and added that the company’s role in the development of the country was important.

Gen Musharraf said Pakistan had exported two million tons of wheat as it had transformed from a wheat-importing country to a wheat-exporting one.

Referring to the buyout of the Pak-Saudi Fertilizer Company by the FFC, he said the FFC had also contributed to the privatization programme of the government by acquiring the plant at the highest price.

He said state corporations were causing a drain of Rs100 billion by incurring huge losses every year.

“We have decided to dispose of these loss-incurring units for improving their efficiency, increasing production and reducing the losses,” he observed.

The president also appreciated the FFC for expanding urea production from 42 per cent to 62 per cent and contributing to the national exchequer in the shape of duties and taxes.

He lauded the prevailing congenial civil-military relations in the company and pointed out that four to five per cent personnel belonged to military services and 95 per cent were civilians in the FFC.

He appreciated welfare activities of the company for its workers and the people of surrounding areas and asked it to further expand such activities.

Gen Musharraf was of the view that not only good working conditions should be ensured for workers but their children and families be also looked after.

He said workers should also work hard and efficiently, earn more income, increase profitability and thus contribute towards the country’s economic development. This would also help the government to look after the welfare of the workers.

Speaking on the occasion, FFC managing director Mehmood Ahmad said the company had acquired 100 per cent management share of the plant through privatization in July 2002.

He pointed out that with the addition of the plant in the fold of the FFC, the total urea production of the company had increased to more than 2.2 million metric tons per annum which was 62 per cent of the country’s total production of the fertilizer.

He said the company had invested another Rs2 billion for refurbishment of the plant to raise its production from 1,800 tons to 2,070 tons per day.

He said the FFC had saved a foreign exchange of $3.5 billion for the country since its inception in 1978 and contributed Rs47 billion to the national exchequer in the shape of duties and taxes.

Sindh Governor Dr Ishratul Ibad, Chief Minister Ali Mohammad Mahar, Corps Commander Lt-Gen Tariq Waseem Ghazi and some federal and provincial ministers were present also on the occasion.—APP