Prime Minister Raja Pervez Ashraf has said that political consensus exists in Pakistan on pursuing liberal economic policies.
He was addressing a delegation of Korean investors at Prime Minister House.
He said all capital goods‚ machinery and equipment enjoy one-time exemption from customs duties under Special Economic Zone Act. Besides‚ the investors will be exempted from Income Tax for 10 years.
The prime minister expressed satisfaction that bilateral trade between Pakistan and Korea has steadily increased. However‚ he said trade between the two countries does not commensurate with the potential.
He said Pakistan can provide low-cost and skilled labour to the Korean industry.
He hoped that Pakistani businessmen would benefit from their Korean counterparts and learn business management‚ techniques and processes to put Pakistan on the trajectory of sustainable economic development.
Speaking on the occasion, Kim Chang Gyou, Sr. MD Lotte Chemical Corporation who was leading the delegation thanked the Prime Minister for inviting them to Prime Minister’s House.
Optimum power generation:
Meanwhile, Prime Minister Ashraf has directed officials concerned to ensure optimum generation of electricity.
He was presiding over a high-level meeting at Prime Minister House to review the energy situation in the country.
The meeting was informed that the cost of electricity has increased due to its dependence on generation from oil. The meeting was told that the government has injected a sum of Rs. 1.4 Trillion in the energy sector in the last five years to subsidize electricity and ensure that that the common man is not burdened by rising electricity prices.
The prime minister directed the Ministry of water and Power to ensure optimum generation so that power supply to consumer remains unaffected.
The PM also directed the Ministry of Water and Power to constantly monitor the fuel availability and stocks situation in thermal power plants so that they remain operative. In this connection, he directed Ministry of Water and Power to closely coordinate with Ministry of Petroleum and Natural Resources and Ministry of Finance.
The meeting was also informed that an interim report on the reasons behind the power break-down of February 25 will be submitted to the Prime Minister on Monday.
