We must agree on a charter of economy to ensure continuity of policies for a stable economy: PM Shehbaz
ISLAMABAD, July 18 (SABAH): Prime Minister Shehbaz Sharif on Tuesday said the next government should focus on the “Economic Revival Plan.” PM Shahbaz Sharif said the country is faced with daunting challenges but together we will overcome these. He said we must agree on a charter of economy to ensure continuity of policies for a stable economy. The Prime Minister lamented the delay in CPEC projects during the last four years of PTI tenure. He said that there is no threat of default, adding that the upcoming government should implement the charter of economy. He said that the forex reserves of the country are nearly $14 billion.
Addressing the foundation stone laying ceremony of the model Special Economic Zone (SEZ), PM Shehbaz Sharif said: “The International Monetary Fund (IMF) increased pressure on us. It is much appreciated that friendly countries have supported Pakistan.”
“We informed the friendly countries that hopefully Pakistan will not need to ask them for loans again,” the premier added. “In the past, the SEZ has received absolutely no investment. It is imperative to hand over the industrial zones to the business community on lease,” the premier added.
“Who will be willing to invest, the premier argued, if the government keeps raising the price of the lands? The concept of leasing the lands will hasten the growth of the nation,” the premier maintained.
The prime minister expressed confidence in overtaking the neighbouring country’s economy.
Prime Minister Shehbaz Sharif has laid the foundation stone of Islamabad Model Special Economic Zone. The zone is under CPEC at T chowk near Rawat and is first such facility in the federal capital.
Spanning over one thousand acre prime industrial land at the junction of N-5 and Islamabad Expressway, the zone will have investment worth 2.5 billion dollars and will create one thousand new employment opportunities. Besides, it will have low carbon footprint industry in the country.
Earlier, Minister for Planning, Development and Special Initiatives Ahsan Iqbal Chaudhry said the Special Economic Zones will be power houses for generating exports and increasing them to 100 billion dollars in next few years.
He said we have talked to China for exchange of expertise to successfully run these Special Economic Zones. Ahsan Iqbal said the Pakistan Democratic Movement (PDM) led government had spent half its term trying to revive the faltering economy of the country.
Ahsan Iqbal said: “The coalition government has made every effort to complete the unfinished development projects”.
He took a swipe at the Pakistan Tehreek-e-Insaf (PTI), saying, “All the development initiatives were undermined during the PTI’s tenure. The country had to deal with a crisis in the decision-making process as a result”.
Ahsan Iqbal continued: “The previous administration only focused on making cases against the political rivals.”