KARACHI (APP) - Advisor to PM on Petroleum and Natural Resources Dr Asim Hussain said that interest rates will go down in the month of March, 2009. He was addressing the members of Karachi Chamber of Commerce and Industry (KCCI) here Saturday. He pointed out that the government has met all the deadlines of IMF in the last quarter of 2008. Responding to the demand of KCCI, he said that trade bodies will be provided representation on the boards of NEPRA and OGRA. "The file for providing representation on the board of NEPRA and OGRA was with the Prime Minister for signing", he added. He said the government was debating whether we need OGRA, NEPRA or not. Underlining the need for tapping more energy resources, he said that at least 100 wells would be drilled every year in the country to meet the domestic demand. Although, it will take four years to reach such a level, there is no way than this to become self sufficient in energy, he added. The Advisor pointed out that the country needed 10 billion cubic feet of gas while the production was 4 billion cubic feet of gas. He said that government was not in a position to lower petroleum prices as it was still absorbing Rs 5b under petroleum development levy (PDL). Dr Asim said that he has requested the government to remove the present DDGM because he is the corrupt man. Minister for Ports and Shipping Babar Khan Ghauri, while criticising the role of new KESC management, said that the sponsors of utility company has not invested the promised $ 400m. He vowed to undertake more development work than his previous tenure. Ghauri said that more vehicles will be provided to police despite opposition to improve their performance. He also opposed the illegal occupation of trade bodies and said inquiry will be held into the alleged reports. We believe that businessmen should not be indulged into such activities and run their bodies in a democratic way, he added. Minister for Overseas Pakistanis, Dr Farooq Sattar underlined the need for a better coordination between the policy makers in the north and the industrial and financial hub in the south. He was of the opinion that foreign remittances can be increased from $ 7 billion to $ 15 billion by 2010 if overseas Pakistanis are provided incentives including removal of fee on the transfer of remittances. He said overseas Pakistanis can come back and invest in Pakistan as has been seen in neighbouring India. Dr Sattar said that organisations like NEPRA, OGRA and PEMRA have to act with responsibility. Chairman Trade Development Authority of Pakistan (TDAP) Senator Ahmed Ali said that high mark up has harmed industrial sector, but things will improve soon. He criticised the role of former Governor SBP and said she was treating the inflation with the help of wrong medication. He said that all the stakeholders will be consulted before making any policy. I will have several committees for on-the-spot solution of problems facing exporters, he added. Earlier, KCCI president Anjum Nisar said that cost of doing was very high due to high mark up, costly utilities and it was hurting the industrial sector specially export oriented sectors. He demanded that gas prices should be lowered while SME must be supported by the government and called for setting up new SME industrial zones to boost industrial production and exports.