Musharraf assures good return to investors: LPG plant inaugurated
By Bureau Report
HYDERABAD, Jan 31: President General Pervez Musharraf on Monday said that golden opportunities for investment existed in a variety of sectors, especially the energy sector.
He was inaugurating Liquefied Petroleum Gas (LPG) plant at Jamshoro of Joint Venture Limited on Monday. According to a hand out issued by the PID, he said that investors were earning excellent return, in double figures, on investment which was not available in any other country.
"We have gas, oil and other natural resources in abundance, which need to be exploited properly," he said and added that it should have been done earlier to meet "our existing energy requirements." He said "the LPG import costs more than two and half time of our own produce."
He referred to 600 megawatt power plant being set up at Thar Coal site and said that energy consumption was increasing in the country and there was need to produce it locally. He said that country's economy was moving in a positive direction, and the economic growth rate would soon touch 7.5 per cent.
He stated that setting up of LPG was a manifestation of foreigners' confidence in the government's investment policies. He said that such an investment would attract other foreigners. He said the increasing inflow of investment had put an end to wrong impression of unfavourable investment conditions.
He described the LPG project as a significant development and said that it would have positive impact on poverty alleviation and check deforestation. He assured the investors that government would provide incentives to them in any field.
Speaking on the occasion Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon said that JJVL would give 50 per cent edge over existing local LPG production. He said that it was priority of the government to increase LPG production to meet energy needs of the people.
The Chairman, JJVL Iqbal Z. Ahmed, in his address of welcome, said that "we must feel proud today." He said that the company would establish more such plants in line with government de-regularisation policy.
He announced Rs2 million for President's tsunami relief fund and setting-up of a community centre at the plant aimed at imparting technical training to people of the area.
The chairman, Senate Mohammadmian Soomro, Sindh Governor Dr Ishratul Ebad Khan, Punjab Governor Khalid Maqbool, Sindh Chief Minister Dr Arbab Ghulam Rahim, Federal Minister for Narcotics Control Ghous Bux Mehar were also present.
