Pakistan needs energy resources: Omar Ayub
15 March, 2007
KARACHI: State Minister for Finance Omar Ayub Khan has said de-regulation, liberalization and privatization is the ethics of the government`s economic policy and it is giving importance to open its economy to be transparent and reliable.
He said this while addressing at the inauguration ceremony of Noman Abid Investment Management limited and the launching ceremony of Reliance Income Fund here on Thursday.
He said due to the government`s economic policies the economic growth rate is 6-8 per cent per annum while the economy had doubled during the past seven years from $ 60m to 135m. Pakistan`s all economic sectors are producing added values, which meet the criteria of WTO, he claimed.
The minister said that human resource development, infrastructure and energy resources were the key factors for development of any country and government was putting importance on these sectors.
He said that Pakistan needs energy resources and the cheapest source of energy was dams. In this connection government is determined to construct more and more dams to become self-sufficient in energy sources, he maintained. Ecnec has also approved the different development projects including the water dams and has allocated funds for them.
The minister emphasized on banks to educate their management so that the clients of today be the better clients of tomorrow.
He also emphasized the business community to be competitive and comparative with the economy of China.
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