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Local, foreign investors not investing in country

The energy policy has been approved in principle. This was stated by Minister for Water and Power Khawaja Asif while speaking in the programme ‘Aaj Kamran Khan Kay Sath’ on Friday. He said that the government is keen to reduce the duration of loadshedding in the next few months.

The minister said that the government is also striving for securing electricity from the Neelum-Jhelum project and the Nandipur project. He said the government is also striving to ensure maximum power supply during the holy month of Ramazan.

In a different segment of the programme, the host, Masood Raza, while commenting on the economy, said that the value of rupee against the dollar fell to a record level on Friday.

Senior analyst Farrukh Saleem said that the cause of the devaluing of the rupee is that neither local nor foreign investors have been investing in the country. He said that the rupee is devalued eight to ten percent a year.

The analyst said that the country’s export is stuck at 25 billion dollars while the import eats away a hefty 40 to 45 billion dollars which has an impact on the health of the rupee.

The government must do something to increase its export and decrease the volume of import.

In a yet different segment of the programme, Masood Raza said that the month of Ramazan is round the corner while the traders and the common man are hugely bothered by the menace of extortions. He said that the DG of Rangers has said it on record that extortion has become an order of the day, and the criminal elements extract around Rs10 million a day.

The criminal elements enjoy support of the political parties. Moreover, the organisations that have been declared defunct under the Anti-Terrorism Act 1997 are also involved in these activities. It has been observed that the frequency of the activities of the extortionists increase just before the advent of Ramazan.

Meanwhile, Geo News correspondent, Afzal Nadeem Dogar, speaking to Masood Raza in the programme, said that the extortionists become more active just before the advent of the holy month of Ramazan. He said that the menace of extortionism is very much there despite the tall promises made by the government.

Cells have been set up in different departments for prompt action on complaints of extortionism, but their performance is bellow par.

Chief of the Karachi Tajir Ittehad, Atiq Mir, while speaking to Masood Raza in the programme, said that he has reached the conclusion that no government organisation is serious in rooting out crimes like kidnappings for ransom and extortionism.

He said that the performance of the anti-extortion cell is also zero. He said that the demand of the traders is that the city should be put under the control of the Army under Section 245 so that the solution to the city’s problems is found.

Commenting on the Supreme Court proceedings, Masood Raza said that a three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry while hearing the funds case ordered former prime minister Raja Pervaiz Ashraf to appear in the court on July 16 and give his explanation on discretionary funds. The chief justice lamented that corruption has gone beyond all bounds.

Geo News correspondent, Abdul Qayyum Siddiqi, said in the programme that 47 billion rupees and 22 billion rupees were earmarked for the People’s Works Programme and the PWD respectively, but the former prime minister had demanded more funds for which 25 billion rupees were arranged for which funds earmarked for other national projects were curtailed and given to development schemes. The former prime minister had not sought approval from the departments concerned. Today, the very people under whose authority all that happened were present in the court to which the chief justice expressed his indignation and wondered how one can expect a transparent inquiry in the presence of those people.

Justice Ejaz Chaudhry said that if the government has entered into a compromise it should let the court know so that the court embarks on finding a way out on its own.

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