President Pervez Musharraf has declared challenges of terrorism, political instability, energy and food crises and discontinuity of economic upsurge, achieved during past five years, as main hurdles to the progress of the country.
He was addressing the inauguration ceremony of specialized Cardiac Centre of Combined Military Hospital here Saturday. Chief of Army Staff General Ashfaq Parvez Kayani and Lahore Corps Commander Lt-Gen Shafaatullah Shah were also present.
Musharraf said the environment in Pakistan was not conducive to investment due to the scourge of terrorism and political instability. He warned of the looming food crisis, which would result in further increase in food products prices. “The days of cheap food are over, because food grain shortage is going to hit the world soon,” he maintained.
He also foresaw increase in prices of edible oil, which will put the new government to the challenge of ensuring food security. Moreover, he said, there is a challenge of energy crisis, while prices of oil were already touching $110 per barrel.
Advising the newly-installed coalition government, Musharraf emphasized, “We have to capitalize on the economic upsurge, achieved during the past five years, in order to steer country out of the looming economic crisis.”
Musharraf stressed the need for creating an investment-friendly environment, as he believed that no one would come to set up industry under the fear of growing terrorism and political instability. “We can curb terrorism and extremism through political stability. Bold decisions are required and we must show the courage to implement them,” the president said.
Later, President Musharraf, along with Chief of Army Staff General Ashfaq Parvez Kayani and Corps Commander Lt-Gen Shafaatullah, inaugurated the CMH Cardiac Centre and visited various sections of the centre.