President Musharraf has said that Kala Bagh Dam is inevitable for Pakistan, however, this particular project would be rationalised at an appropriate time at any cost.
While talking in a televised programme ‘Aiwan-e-Sadr Sey’, President said that strong economy and economic status are essential for the progress of any country.
"Eight years ago, the national kitty was empty, with all foreign and local investment of the country virtually diminished, and Pakistan was declared as a bankrupt state," he said.
"We evaluated the entire situation and chalked out new strategy to pull the country out of the aforesaid odds. We reduced unduly expenditures of the government and started to increase revenue collection. We appointed competent administration in all national institutions and expressed resolve to transfer loss-incurring institutions into profit-making entities. Additionally, we worked out to eradicate the plague of corruption and also reduced defence budget to elevate development projects", he contended.
He said that government’s friendly-investment policies attracted heavy foreign investment inside the country.
He said that government adopted policies to bridge gulf between the rich and the poor. "Now the trend of concentration of wealth within few hands has been ended".
In response to a question, President said that economy of Pakistan has positively progressing and new industries are being set up in the country.
The World Bank in its reports has also confirmed that Pakistan is a developing country with the world’s sixth-largest population, and an economic growth rate that has been consistently positive.
There was a time when the import of Pakistan was far more than its export, President added. That is why, IMF and World Bank have lauded the social and economic polices of the Pakistan. President further said that he believes in equal distribution of resources and government is achieving its goals in this connection.
In the year 2002, United Bank Limited (UBL) had sold its fifty percent of shares with cost of Rs. 210 million. However, on its privatisation, it had sold its fifty percent share at rate of Rs. 750 million, President added.
In response to another question, President Musharraf said that government had taken several substantial steps for the uplift of the agriculture sector. Three major dams were constructed, canal system was made effective. He said government also allocated amount of Rs. 66 billion for the lining of watercourses and out of this amount Rs. 40 billion have so far been spent on this project.
He said that government has also announced a package in order to provide loans to the formers to promote the agriculture profession in Pakistan and the work in the fields of dairy and livestock is also underway.
"The construction of Kala Bagh Dam is inevitable for Pakistan and it would be constructed at all cost at the right time," he said.
President further said that there are several countries in the map of world, which have very weak economy as compared to Pakistan, but they seem happier than Pakistan. The reason is simple as there is no terrorism and extremism. Therefore, it is also necessary to eliminate terrorism from this region.
Similarly, he said that per capita income has also increased. In 1999, a common labourer was drawing salary Rs. 1500 but now it has been elevated to Rs. 4500. "The purchasing power of masses has also increased. There are only 25 percent people who are living life below the poverty line. But the government has committed to the welfare of all such people," he concluded.