Prime Minister Shehbaz Sharif has urged allied nations to provide essential investment in various projects for Pakistan, emphasizing the importance of avoiding loans that contribute to the nation’s debt burden, aiming to revitalize the struggling economy.
Addressing the cabinet members during a recent meeting, the Prime Minister commended the effectiveness of the Special Investment Facilitation Council (SIFC), noting its pivotal role in unlocking Pakistan’s growth potential by facilitating foreign investment. He informed the cabinet that he had conveyed to friendly nations the importance of investment over loans for Pakistan’s economic revival. The Prime Minister stressed the need to harness the potential of the youth through top-notch skill training and emphasized the promotion of entrepreneurship, SMEs, and start-ups.
Pakistan is seeking investment from countries like the United Arab Emirates, Saudi Arabia, Qatar, and Kuwait in sectors including mining, agriculture, industry, and energy. The Prime Minister highlighted the trust placed in the current government by the Pakistani people and expressed confidence in the balanced composition of the new cabinet to tackle the nation’s challenges effectively.
Discussing the roadmap for economic recovery, PM Shehbaz addressed concerns such as the escalating circular debt in energy sectors, energy theft, and losses, particularly emphasizing the need for structural reforms to overcome these challenges. He also addressed issues related to entities like the Federal Board of Revenue (FBR) and Pakistan International Airlines (PIA), stressing the importance of revenue collection and efficient management.
Recognizing the adverse impacts of climate change, especially recent floods in various regions, the Prime Minister underscored the necessity of immediate relief efforts and structural reforms to address the underlying issues. He reiterated the government’s commitment to implementing necessary reforms despite the daunting challenges, emphasizing collective efforts to steer Pakistan towards progress and development.
