Country’s economy now sound, says Musharraf
OTTAWA, Sept 25: President Pervez Musharraf has said that economy of Pakistan has greatly improved and urged the overseas Pakistanis to invest in the country.
Addressing Pakistanis living in Canada at Ottawa, the President, now on an official visit here, said the country’s economy was extremely weak four years ago.
“However, now the situation has changed. The national economy has been revived but it needs to be further strengthened,” he observed.
President Musharraf noted that foreign exchange reserves of the country had gone up to $11 billion. The debt has also been reduced by $3 billion. The investment had increased by 70 per cent as compared to last year and exports had crossed the target of $11 billion during the last fiscal year, he said.
Referring to the geo-strategic position of the country, the President said the country had to play its role in leading the Muslim world. Pakistan, being an important country of the Muslim world, had to accept the challenge, he said.
“We have to correct the wrong perception of the world about Islam and improve the overall situation also,” he declared.
NUCLEAR PROGRAMME: The President ruled out scrapping of the country’s nuclear programme.
Amidst huge applause, he declared that Pakistan had no intention of scrapping its nuclear programme, vowing that the question of weakening the country’s armed forces did not arise.
Referring to the recent 10-month-old military standoff with its nuclearized neighbour, India, the President said: “The armed forces are maintaining a deterrence, a defence deterrence.
“We provided the level of force that we needed.”
He said that after the Cold War which pitted the Soviet bloc against the United States and its European allies, the focus had turned to South Asian region.
He said the country was strategically placed. Though this strategic location of the country was not new, he said, unfortunately “we have never taken advantage of this.”
“We have to strengthen our economy and develop a good commercial infrastructure — and we are doing that,” he said.
The President only briefly touched on the current internal political and security situation and said it was necessary for the country to shun religious extremism which would get the country to nowhere.
Earlier, on arrival in Ottawa from New York on a three-day visit to Canada, President Musharraf was accorded a warm welcome at the airport.
He was received by members of the Canadian cabinet and leader of the government in Senate Ms Sharon Carstairs and Pakistan High Commissioner Shahid Malik.—PPI