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Resolution of energy crisis likely

Trade and industry have heaved a sigh of relief at the prospects of a stable government after five years of unstable coalitions as the Pakistan Muslim League-Nawaz (PML-N) emerged as the largest party in the National Assembly as a result of May 11 elections.

President Lahore Chamber of Commerce and Industry Farooq Iftikhar hoped that the Nawaz-led government at the center would address energy crisis on priority and restore law and order in all parts of the country, including Karachi – the country’s financial hub. He hoped that the new government would give priority to merit in its appointments and postings.

He said law and order will improve when the government succeeds in creation of new jobs by attracting both domestic and foreign investments.Chairman Punjab Industrial Estates Development and Management Company (PIEDMC) SM Tanveer hoped that it would promote public and private partnership on the same lines as was done in the past five years in Punjab. Today, he added, PIEDMC is the shining example of public-private partnership as it is creating a chain of state of the art industrial estates in every district of Punjab from its own resources.

The new provincial government, he added, will reap the benefits of this infrastructure as Punjab is fully equipped and ready to accept unlimited number of investors and provide them with industrial space in its industrial estates having best infrastructure in the country.

Chairman Pakistan Industrial and Traders Association Front Malik Tahir Javed, Senior Vice Chairman Khamis Saeed Butt and Vice President Amjad Ali Jawa said that comprehensive success of PML-N had rekindled the hopes of catastrophe-hit business community, which was in deep trouble because of sever energy crisis, corruption, deteriorating law and order situation.

They said that because of lack of interest of the previous regime, industrial production went at the lowest ebb, while exports and foreign exchange reserves were declining with every passing day.

Chairman All Pakistan Business Forum Syed Nabeel Hashmi hoped that the new government would forge unity and take all parties along to take Pakistan out of its economic troubles. He said there is not a single economic issue that could be ignored. Inflation, huge budget deficit, increasing trade deficit, and declining rupee need immediate attention of economic managers.

He said energy crisis and bad law and order situation have to be tackled on priority. Based on the track record of PML-N rule in Punjab, he hoped that the government would be able to resolve the issues at federal level as well.

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