LAHORE - Amid continuous dishonoring of its pre-election promises, the PML-N government claimed on Saturday that power tariff would be reduced after three years when 6,600MW coal-fired power plants were installed.

Federal Minister for Information and Broadcasting Senator Pervaiz Rashid, speaking at the launching ceremony of ‘Export Guide’ here at the Lahore Chamber of Commerce and Industry, also reiterated that power crisis would subside with passage of time. LCCI President Farooq Iftikhar and writer of the book Ishtiaq Hussain also spoke on the occasion.

Regarding increase in petroleum product rates, the Minister pointed out that the rates are linked to global petroleum rates and government has not imposed any new tax on these products. Regarding high electricity tariff for the industry, the Senator said that industries were producing more expensive electricity from furnace oil and diesel.

He said even after increase in tariff the electricity rates are much lower than their internal power production.

Federal Minister said that competence, technology, and innovation are the prerequisites to penetrate the global market therefore businessmen should focus on product development to enlarge their market share.

The Minister said, “I usually avoid going to book launching ceremonies but the topic of promoting exports is close to my heart. Moreover after going through the contents of the book by author Istiaq Hussain I would have come to the function even if I had not been invited as chief guest.”

The Federal Minister conceded that Pakistan’s share in global exports is nominal. He said Pakistani entrepreneurs should take this as challenge and go all out for exports. “They have learnt a lot through experience” he said, adding that the have proved themselves creditable suppliers that honor their commitment on timely delivery and quality.

Senator Pervaiz Rashid said the present government is convinced that private sector is much more efficient than the bureaucracy and it is taking them on board in all economic related fields. He said private sector has played an important role in lowering resistance to regional trade. The Minister said present government is making all out efforts for peace both inside the country and at borders to provide hassle free environment for trade. He said regional trade would benefit the economy of all regional economies. Senator Pervaiz Rashid said that global trade now is borderless.

Tradable goods pass seamlessly through border under the globally accepted principles of free market economy. He said now Pakistani products compete with imported goods in the domestic market and challenge the foreign producers in their home markets. The trade, he added, is done on the basis of quality and price.

Speaking on the occasion, LCCI President Farooq Iftikhar said that the private sector was in dire need of hand-holding by the government in its efforts aimed at increasing exports. He said that the Lahore Chamber of Commerce and Industry was taking all out measure to promote economic activities in the country.

Earlier, the author of the book Ishtiaq Hussain threw light on the objective to select the topic of the book and said that he wanted to give awareness to the masses about the benefits of starting export business.