LONDON: Prime Minister Nawaz Sharif on Thursday tried to make a high-pitch for attracting foreign investment in Pakistan energy sector at Pakistan-UK Energy Dialogue and Investment Conference in London.
“My vision is to develop a competitive energy market in Pakistan, that on one hand provides a fair return on investment and through a robust regime adequately protects the rights of consumers on the other,” the prime minister said while addressing the conference.
The prime minister said that at the time of taking office, the incumbent government inherited a challenging macroeconomic situation. “Our priority was to pursue a course correction stipulating an increase in revenue, reduction in expenditures, refusing the fiscal deficit and expanding the development portfolio,” he added.
“We have reduced our budget deficit from over 8 per cent in fiscal year and took it to less to 6 per cent in the first year, and our poised to end the current fiscal year in around 5 per cent deficit. Our GDP growth though insufficient, also increased to 4.1 per cent last year , expected to be around 7 per cent before our term ends, he added.
“The primary objective of today’s discussion is to share ideas and international practices between policy makers and investors for formulating an optimal energy policy for Pakistan with particular focus on net energy sufficiency and developing a competitive energy industry,” he added.
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