LAHORE - Federal Minister for Investment, Senator Waqar Ahmed Khan has said that Ministry of Investment would manage to bring in $ 10 billion foreign investment by December this year. Addressing the business tycoons at LCCI here Saturday, he said the National Assembly and the Senate would soon formulate laws to provide legal cover to investment policies so that change of governments could not abolish or obstruct them. Talking about energy crises, he said that several power projects are under way and 4500 more electricity will be online by December 2009 or January 2010, which would definitely mitigate load-shedding. Waqar Ahmed said that efforts were afoot to import Liquified Natural Gas as Pakistan needed seven million tonnes of the LNG, which is 15 percent more efficient than other fuels. The LNG would enable the gas-operated power plants to enhance their generation up to 1300MW as well as reduce the POL import bill up to 20 percent, he maintained. Qatar government has agreed to give LNG, provided that Pakistan government enter into a long-term agreement, he said, adding that after completion of all formalities with Qatar, the LNG would reach Pakistan within three months. Regarding food shortage, the minister said the government was focusing on corporate farming under which state lands would be provided on lease to foreign and local investors, who would also be given tax exemption on import of equipment, hybrid seeds and machinery in this regard. However, the government has bound these investors to share 50 percent of the production with local farmers. While, farm to market roads are being constructed for safe and smooth supply of the agri production. He hoped that these joint ventures would help overcome the food crises within next four years. Similarly, the local and foreign companies would be provided land on lease for construction of residential areas, as Pakistan is running short of eight million houses for the poor and deserving families. The Federal Minister stressed upon the LCCI to play its substantial role in helping the Internally Displaced Persons (IDPs) of Swat, Buner and other tribal areas. Lahore Chamber must set a precedence for the whole nation and the business community with regards to assist the IDPs, he added. Senator Waqar Ahmed said, The government has tremendous resolve to root out terrorism in all its manifestations and totally clear all the areas of this menace. He said that government have taken all the political parties on board and all of them supported the Swat operation. Over the last eight years, Pakistan suffered around $ 40 billion investment due to war on terror, he added. The govt has chalked out strategy under three 'Rs (Relief, Rehabilitation, Reconstruction) for the IDPs, who have their own businesses and jobs, and were living normal life but they have to leave all their belongings just because of the terrorists and miscreants, who have no religion and belief. We must do a lot for the IDPs, who now have no shelter, food, medicines and other life amenities, he said, asserting that LCCI must convene a special session to discuss the ways and means to help the displaced people. The LCCI President Mian Muzaffar Ali, SVP Tahir Javaid Malik, VP Irfan Iqbal Sheikh and others also spoke on the occasion.