LAHORE: Under the auspices of the Special Investment Facilitation Council (SIFC), four nations have committed $27 billion for investment through the launch of numerous megaprojects in Pakistan, according to Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal.
“The SIFC is a very useful institution and framework under which our four brother countries have allocated $27bn for investment. Saudi Arabia allocated $5bn, UAE and Kuwait $10bn each and Azerbaijan $2bn,” he said while responding to various questions at a press conference in Lahore on Saturday. “And this is the vision of our Prime Minister Shehbaz Sharif who wants investment from friendly countries instead of getting loans from them,” he added.
The minister stated that because the government is currently preoccupied with preparing the viability of numerous projects, the investment is anticipated to be made within the next two to four years.
He claims that Pakistan wants trade with China and Saudi Arabia, not loans. Since Pakistan’s founding, these two nations have continuously offered unwavering assistance when needed. He said negotiations with the IMF were in progress and that a final deal would follow shortly.
said any party with a strategy for economic recovery had to give it to the government.
Ahsan Iqbal stated that the PML-N, led by Nawaz Sharif, had restored Pakistan’s economy. He was flanked by the secretary general of the Institution of Engineers Pakistan, Engineer Amir Zamir Ahmed Khan, and Usman Farooq, a member of the Pakistan Engineering Council. He believed that this was not the time for protracted protests or dispersing mayhem. Any party with an economic recovery plan, he said, had to share it with the government.
Iqbal promised that the energy situation will be under control in a year. By the end of the year, the inflation rate will also be reduced to a single digit.
He claimed that an investigation into the irregularities in the Engineers Council elections has been requested of the interior minister. He said, “There was a glitch that prevented me from even casting my vote in the election.”
Ahsan stated that Prime Minister Shehbaz Sharif is scheduled to unveil a detailed five-year plan defining national economic goals in an attempt to revitalize Pakistan’s economy. The strategy intends to deal with urgent problems like instability, tax evasion, and the energy crisis. Ahsan emphasized that for Pakistan to advance and prosper, anarchy and instability must be avoided. “Investments won’t happen and the energy crisis won’t go away without peace.”
He called for traders to pay taxes in order to support the nation’s development, emphasizing that the industrial sector bears 70% of the tax burden while the service sector pays very little. He claimed that tax evasion compels the government to make deals with the IMF and borrow money from other people.
In a letter to the opposition parties, Ahsan called for teamwork to find solutions, especially with Jamaat-I-Islami. “They ought to put forth an alternate plan if they have one. To meet the challenges, we shall share all of our resources and open our books. He emphasized the need to pay taxes, saying, “We must pay taxes in order to reduce electricity theft.” The national economy will only suffer from strikes and shutdowns. This is not the moment to play on people’s emotions or stage protests.
The minister chastised Imran Khan in a separate media interview for creating undue fuss about the jail’s amenities. “Imran Khan resides in a five-star jail with exercise equipment, prepared meals, and other amenities. However, Imran Khan’s government did not even permit me to receive physiotherapy for my arms, which had been operated on three days before to his imprisonment. And as a result, my arm developed a permanent deformity,” he regretted.
He stated that in addition to having additional facilities, Imran Khan is free to speak with his attorneys, party officials, and the media. However, Imran Khan and other opposition and PML-N leaders were not even permitted to see their attorneys during his administration. “I am not aware of any reports that Imran Khan perspires during his court appearances. However, he added, “I have witnessed Nawaz Sharif, the three-time prime minister, perspiring in prison,” and that the government has never considered exacting revenge on Imran Khan.
