KARACHI, Aug 26: Adviser to Prime Minister on Finance Dr Salman Shah said on Friday that President General Pervez Musharraf would announce the National Finance Commission (NFC) award soon after the completion of local government poll process.

He told reporters during his visit to the Pakistan-Oman Investment Company Limited that there remained no obstacle in the way of announcement of the NFC award. The adviser stressed the need for slashing the import of POL products by increasing the utilization of gas as fuel as much as possible.

The government suffered loss of $500 weekly as the petrol price had increased to $70 per barrel in international market, he said. Pakistan could generate power through coal, as the large-scale coal reserves were available in the country, he said, adding that proper planning was needed for the exploration and exploitation of coal, besides, the fast pace of work.—Online