KARACHI: Exploiting Thar coal a tricky job: PM’s aide
KARACHI, Dec 17: Advisor to the Prime Minister on Finance Dr Salman Shah has said that the Thar coal is a very major deposit but there is some complexity in exploit it. “Very complex arrangements will have to be undertaken to exploit the coal deposit, he said while replying to newsmen’s question at a ceremony held here on Sunday.
“Our efforts are to use this because this is a resource which can bring down our energy costs. However, the success in this will be possible through a technological breakthrough,” he said, adding that imported coal was also quite viable for power generation. In future, coal will be an important part of the energy mix.
Dr Salman Shah said energy requirements were going up at a rate double than the country’s economic growth rate which meant that there was a need to enhance the energy efficiency as well. The conservation in industry and domestic usage can play a very big role. This would also cast a positive impact on our balance of payment.
Dr Shah said if the international energy prices came down, it would benefit Pakistan’s balance of payment and that there would also be a positive impact on inflation in the country.
He stated that the situation in agriculture sector appeared to be good. The growth in the industrial manufacturing was on track, he added.
“Inshallah, the current one would also be a good year for us,” he predicted.
There has been a 23 per cent increase in exports in the month of November as compared to that of the corresponding month last year.
The PM’s advisor said the levels of foreign investments in Pakistan were very good. “In the first quarter, the figure was $1.2 billion and till now, we have crossed the figure of $2 billion. If this trend continues, then we can expect foreign investment to the tune of $4.5 to $5 billion.”
Along with this, the position of remittances is also good.
He pointed out that there was a surplus of balance of payment and by the end of the year, the forex reserves would be better than those in the previous year.
He said there had been a bit slow-down in the imports which was a positive element.
Dr Salman said that in budget, there were certain projections and the government’s efforts were aimed at meeting the fiscal deficit as mentioned.
“As long as we are on the target with regard to fiscal deficit and the projections, and if the prices remain the same (in the international market) then we will, Inshallah, bring down the oil prices.”
Earlier, Dr Salman Shah inaugurated the Asset Management Company set up by a private bank. The ceremony was attended, among others, by bankers, businessmen and professionals associated with finance and money markets.
Speaking on the occasion, Dr Shah said the demographic composition of the country was such that there could be no stopping of economic growth here.
He said the financial market and product market of the country had huge potential and could be exploited for the better interest of the investors and consumers alike.
“Our aim is to create conducive climate for investment through facilitation of the private sector which can play a major role in this regard,” he pointed out.—APP
