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BREAKING NEWS Islamabad National

PM calls for political stability for attracting foreign investment


Prime Minister Shehbaz Sharif Sunday called for political stability to attract foreign investment and pull the country out of the present economic difficulties.

Speaking to the office bearers of Faisalabad Chamber of Commerce and Industry and prominent businessmen, he urged that politics should be put aside in the matters of economy and all stakeholders including politicians, businessmen and bureaucracy should be on board for carrying out structural and deep-rooted reforms.

He went on to say that agreement with the International Monetary Fund (IMF) only gave breathing space to the economy and the way out of economic difficulties was reforms in different sectors.

The prime minister recalled that the government of Nawaz Sharif introduced the projects of solar, wind and hydel energy but later policies for alternative energy were discontinued and unfair cases were launched by NAB which stopped progress to attain green energy.

He was of the view that corruption should not be tolerated but there should be a fair, transparent and just system of accountability so that the economy should not be jeopardized in the name of accountability. The focus should be on strengthening economy instead of levelling baseless allegations which were harmful for economic, industrial and agricultural growth, he added.

He said his government enacted the law for government to government agreements for attracting foreign investment and now countries like China, Saudi Arabia, Korea and Qatar were willing to invest in Pakistan and only wanted political stability so that they could set up businesses, earn profits and in return bring benefits to people of Pakistan.
These countries were not interested in giving loans but wanted to make investments, he remarked.

He was confident that the country would emerge from financial stress, revenues would be generated, businessmen would make profits as the wheel of the economy would move ahead.
Shehbaz Sharif assured that if people would give his party the mandate in the next elections, his government would resolve issues of industrialists and exporters.
He said exports of the industrial and agriculture sectors were the backbone of Pakistan, adding the businessmen rightly raised the issues including the problem of high power and gas tariffs.
IMF asked the government to refrain from giving subsidies to the consumers on electricity, he explained.

He said Pakistan was faced with immense economic challenges, adding the country could not get an honourable status in the international community without increasing exports and achieving economic progress.

He said Faisalabad was the hub of the textile industry and once it was called Manchester of Pakistan.
He appreciated businessmen of Faisalabad for contributing and rendering invaluable services for the economy of Pakistan and making great strides in the textile industry with their hard work and entrepreneurship.
The textile exporters were working in a competitive and challenging environment and textiles were the biggest component in export earnings, he added. He lauded the businessmen for their contribution for the welfare of citizens through different projects.


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