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ISLAMABAD: President General Pervez Musharraf has called upon the private sector to make full use of incentives provided by the government for the development of oil and gas resources.

He was inaugurating a three-day International Oil Conference in Islamabad on Saturday.

The President assured the local and foreign investors of continuity of the economic and other policies of his government by the democratic dispensation.

He said an appropriate framework in this context is already there, guaranteeing continuity of the current policies beyond 2002.

The President pointed out that the public at large and political parties in particular had been taken into confidence and apprised of the economic strategy adopted by his government.

He emphasized that unprecedented incentives given by his government should also be availed of by Oil and Gas sector to develop Pakistan’s tremendous resources in this field.

Referring to the economic achievements of his government, he said, even the International Financial Institutions acknowledge great strides in the national economy. Pakistan’s credit rating is now two plus.

He said the country today has the highest ever foreign exchange reserves. Inflation is around three percent, level of foreign remittances has also touched a record high. Other economic indicators also suggest a steady growth.

Earlier, addressing the conference Minister for Petroleum and Natural Resources Usman Amminuddin highlighted the country’s achievements in oil and gas sector.

He said six new oil and gas reserves have been discovered during the last month alone. He said a comprehensive package given by the government would go a long way in attracting foreign investment in the oil and gas sector.

The local and foreign companies are participating in the conference and an oil show having almost fifty stalls established by different companies working in the oil and gas sector, has been arranged to display their products.


	Economic policies to continue beyond 2002, says Musharraf ISLAMABAD: President General Pervez Musharraf has called upon the private sector to make full use of incentives provided by the government for the development of oil and gas resources. He was inaugurating a three-day International Oil Conference in Islamabad on Saturday. The President assured the local and foreign investors of continuity of the economic and other policies of his government by the democratic dispensation. He said an appropriate framework in this context is already there, guaranteeing continuity of the current policies beyond 2002. The President pointed out that the public at large and political parties in particular had been taken into confidence and apprised of the economic strategy adopted by his government. He emphasized that unprecedented incentives given by his government should also be availed of by Oil and Gas sector to develop Pakistan’s tremendous resources in this field. Referring to the economic achievements of his government, he said, even the International Financial Institutions acknowledge great strides in the national economy. Pakistan’s credit rating is now two plus. He said the country today has the highest ever foreign exchange reserves. Inflation is around three percent, level of foreign remittances has also touched a record high. Other economic indicators also suggest a steady growth. Earlier, addressing the conference Minister for Petroleum and Natural Resources Usman Amminuddin highlighted the country’s achievements in oil and gas sector. He said six new oil and gas reserves have been discovered during the last month alone. He said a comprehensive package given by the government would go a long way in attracting foreign investment in the oil and gas sector. The local and foreign companies are participating in the conference and an oil show having almost fifty stalls established by different companies working in the oil and gas sector, has been arranged to display their products.
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