PM vows to put country on track of economic recovery

On Pakistan Day, Shehbaz urges countrymen to renew firm national resolve to make homeland a trivet of peace, progress and stability n Says Reko Diq project will prove to be a game changer for uplift of Balochistan and region n Forms cabinet body to
re-activate slow-moving CPEC projects.

ISLAMABAD  –  Prime Minister Shehbaz Sharif yesterday said that being cognizant of the serious challenges confronting Pakistan, the incumbent govern­ment is committed to put Pakistan on the path to economic recov­ery and prosperity with a cogent policy reform framework. “We are completely cognizant of the serious challenges confronting Pakistan currently including in­flation, unemployment, circular debt, fiscal and trade deficit, and above all the growing scourge of terrorism,” the prime minister said as the na­tion celebrates the Paki­stan Day today. 

Felicitating Pakistan­is at home or abroad, he said that as a na­tion, the Pakistanis had proved to be resilient in the face of extraordi­nary circumstances and stood the test of time. 

“I can assure you that we stand committed to put Pakistan on the path to economic recov­ery and prosperity with a cogent policy reform framework. I hope that these measures will bring economic sta­bility and the current wave of high inflation will recede, bringing re­spite for our citizens,” the prime minister re­marked. He said that in the journey on the path of democracy, the people of Pakistan elected their repre­sentatives in the general elec­tions held on 8th February and consequently the governments had been formed at the federal and provincial levels. 

Prime Minister Shehbaz urged the countrymen to renew their firm resolve to follow the foot­steps of our founding fathers to make Pakistan a trivet of peace, progress and stability.

“Let us not forget that our ac­tions today will define the lega­cy of our generation and shape the course of history. Let us work for a Pakistan that is not driven apart by differences but is united around shared val­ues,” he urged. The prime min­ister said that the 23rd March marked a momentous day in the history as on that day in 1940 the Muslims of Sub-Con­tinent passed the historic ‘La­hore Resolution’ and demand­ed a separate homeland where they could freely live their own way of life according to the principles of Islam. 

Through a consistent and ded­icated political struggle of our founding fathers, the dream of a separate homeland for Muslims of South Asia became a reality and Pakistan appeared on the map of the world on 14th August 1947, he added.

Prime Minister Shehbaz said that the forefathers made untir­ing efforts and rendered exem­plary sacrifices for Pakistan and millions of Muslims left their homes in India and decided to migrate to Pakistan. 

The new state had faced un­precedented challenges includ­ing creating a social and eco­nomic foundation, settlement of refugees, creation of state institutions, and meagre re­sources. 

However, the prime minis­ter said that under the inspir­ing leadership of Quaid-e-Azam Muhammad Ali Jinnah and with the resilience and dedication of the nation, those daunting chal­lenges faced by the nascent state were addressed and a founda­tion for an independent demo­cratic state was laid down.

Meanwhile, in a meeting with the delegation of Barrick Gold-led by its Chief Executive Officer Mark Bristow here, the prime minister said that the Reko Diq project will prove to be a game changer for the development of Balochistan and the region.

He said the project will usher in a new era of development of the province and prosperity of the people.

Shehbaz said plans will be chalked out regarding communi­cation infrastructure, especial­ly railway lines to take full ad­vantage of the mineral potential of Balochistan. He also encour­aged the Barrick Gold to invest in other projects of minerals in Balochistan. He proposed a joint venture between the govern­ment and the Barrick Gold for the establishment of a Technical University in Chaghai.

Shehbaz Sharif said the gov­ernment is taking all possible measures, including projects for a better roads and communica­tion infrastructure, to facilitate investors. Briefing the progress on Reko Diq project, the dele­gation informed the Prime Min­ister that its feasibility would be completed by the end of this year. It was told that local and Balochistan domicile holders are being given priority in jobs on Reko Diq project.

In another development, the prime minister constituted the Cabinet Committee on Chinese Investment Projects (CCoCIP) with the objectives to re-activate slow-moving projects of CPEC, and review the measures taken for the security of Chinese work­ing in Pakistan.

“The PM has taken a decision to constitute the Cabinet Com­mittee on Chinese Investment Projects (CCoCIP) to facilitate Chinese investments in produc­tive sectors of Pakistan’s econo­my as next phase China-Pakistan Economic Corridor,” said a noti­fication issued here by the Cab­inet Division.

The committee will be headed by Minister for Planning, Devel­opment & Special Initiatives as its Chairman, while Minister for Foreign Affairs, Minister for In­terior, Minister for Finance, Min­ister for Commerce, Minister for Petroleum, Minister for Power, Minister for Railways, Minister for Science and Technology will work as its members.

The Terms of Reference (ToRs) of the Committee includes to oversee the progress of invest­ment projects executed by Chi­nese companies; to expeditious­ly resolve issues faced by the Chinese investors with different government entities; to facilitate Chinese investment in produc­tive sectors of Pakistan’s econo­my as next phase China-Pakistan Economic Corridor; to re-ac­tivate slow moving projects of CPEC through re-engagements with nominated Chinese enti­ties; to create an enabling envi­ronment where Chinese invest­ment can yield optimal results; and, to review the measures tak­en for security of Chinese work­ing / living in Pakistan.

Also chairing another meeting regarding the advancement of the Information Technology sec­tor, the prime minister empha­sized the pivotal role of Informa­tion Technology in the country’s economic development.

“Efforts will be made to har­ness the vast potential of the In­formation Technology sector to promote national progress”, the PM remarked. 

The PM said application of technology will bring innovation to every sector of the economy.

He directed to formulate a comprehensive action plan to increase national IT revenues on priority basis.

PM, SAUDI FUND DELEGATION DISCUSS DEVELOPMENT PROJECTS

Meanwhile, a delegation of Saudi Fund for Development (SFD), led by Sultan Bin Abdul Rehman Al Marshad, Chief Exec­utive Officer (CEO), SFD, called on Prime Minister Shehbaz Sharif here and discussed its on­going projects in Pakistan. 

The PM appreciated the long-standing friendship be­tween Saudi Arabia and Paki­stan and the efforts of SFD for providing financing to Pakistan in the fields of Health, Energy, Infrastructure and Education as well the recent floods. The CEO, SFD thanked the Prime Minister and Government of Pakistan for the warm welcome and hospital­ity as well as the conferment of the National Civil Award, Hilal-e-Quaid-e-Azam. The prime min­ister, while appreciating the sup­port of the SFD, highlighted the need to expedite the processing of the new projects, shared with SFD, in the field of green energy and infrastructure, which once implemented, would go a long way in the economic revival of the country, besides serving the needs of the local communities.

The CEO, SFD assured early processing of the shared proj­ects and also reiterated that the Kingdom of Saudi Arabia, under the leadership of the Royal Fam­ily, would extend all possible as­sistance and continued support to Pakistan.