Shehbaz Sharif launches Buna-Raast connectivity project. Orders enhanced airport services for passengers. PM, Bilawal Bhutto discuss overall political situation.
ISLAMABAD - Prime Minister Shehbaz Sharif on Thursday said that he would unveil a five-year economic revival plan in the coming weeks as broad parameters had already been finalised through months-long deliberations with the stakeholders.
The prime minister while addressing the launching ceremony of the Buna-Raast connectivity project, said the “Home-Grown Economic Program” would envisage measures to boost the country’s economy by uplifting agriculture, information technology, and other untapped sectors.
“Our program is under discussion and I will announce it very soon. Great work has gone into it. It involves discussions and deliberations with all stakeholders over the last many months. Recently we have finalised its broad parameters. By next week or so, we will finalise it. I will go to the people to announce the program for the next five years,” the prime minister remarked.
Highlighting the challenges of reforms in the Federal Board of Revenue and power sector, he told the gathering that he was personally monitoring the digitisation of FBR and that the government was hopeful of positive outcomes of power sector reforms.
“There is no magic band. It is all about hard work, sacrifice, blood and sweat. Our nation is robust and strong. Our people are full of hope and energy. Let us put our work together. Let us not waste time on debates as we had done in the past. Let us now use this time for actual implementation on the ground. Insha Allah, you will see we will have dividends and will find our place in the comity of nations through hard work, hard work and hard work,” he said.
Under the Buna-Raast connectivity project, the Raast payment mechanism is being linked with the Arab Monetary Fund’s Buna system to facilitate millions of overseas Pakistanis in Arab countries to send remittances through a swift, affordable, and effective mechanism.
The prime minister said that besides easing the remittance-sending process digitally, it would also help boost the country’s foreign exchange and further strengthen the already cordial relations between Pakistan and the Arab world.
Moreover, Prime Minister Shehbaz said that the project also held the potential to accelerate the connectivity into a future model of a wider payment system where transactions would take place from region to region with a potential of over $20 billion in annual payments.
In his remarks, Finance Minister Muhammad Aurangzeb said that macroeconomic stability was taking root in Pakistan’s economy as manifested by reduced current account deficit, stable currency, improved foreign reserves, upgraded sovereign ratings, and reviving investors’ confidence.
He said the government was committed to infrastructural reforms and that its efforts were bearing fruits, though a lot more was yet to be done. The remittances were on the surge with $3 billion received in July, he added.
Also, Prime Minister says we are working with coalition parties for development and prosperity of the country. He said this while talking to Chairman Pakistan Peoples Party Bilawal Bhutto Zardari who called on him in Islamabad on Thursday night. They discussed overall political situation of the country.
Prime Minister Shehbaz Sharif yesterday hosted PPP Chairman Bilawal Bhutto over dinner and discussed the prevailing political situation with him.
An official statement issued by the PM Office said, the prime minister was assisted by Deputy PM Senator Ishaq Dar, Federal Ministers Azam Nazir Tarar, Ahsan Iqbal, and Advisor to PM on Political Affairs Rana Sanaullah.
PPP’s other leaders including Raja Pervez Ashraf, Naveed Qamar and Sherry Rehman were also present on the occasion.
Prime Minister Shehbaz Sharif said that his government is working for the uplift of the people with the help of coalition partners.
Chairman Bilawal Bhutto conveyed certain reservations to the prime minister on which he was given assurance that these would be addressed.
Shehbaz took Bilawal into confidence on the recent high level developments and sought PPP’s cooperation in handling it.
The PPP chairman was assured that the federal government would continue supply of funds for the ongoing development projects in Sindh.
On the reservations about the Punjab government, the PM assured to take up the matter with the Punjab chief minister.
Efforts afoot to ensure digitization of economy: PM
Prime Minister Shehbaz Sharif says significant steps are being taken to ensure the digitization of the economy, including the digitization of the Federal Board of Revenue which is a critical milestone for economic reforms.
He was talking to a delegation of Harvard Business School students including students from nine different countries, that called on him in Islamabad today.
Speaking on the occasion , the Prime Minister said external and internal debt pose challenges for the economy, but we will address these challenges through economic stability.
He said the digitization of FBR will help expand the tax base.
The Prime Minister said the government is working to ease the business environment and remove bureaucratic red tape. The Special Investment Facilitation Council is an important advancement in this regard.
He said efforts have begun to reduce the size of the government and cut expenditures, with ongoing work on downsizing and right-sizing federal ministries and departments.
The Prime Minister said a home-grown economic plan for the next five years will be announced soon in collaboration with experts.
He said policies are being implemented to reduce the elite’s control over resources and improve the welfare of the middle and lower classes.
The Prime Minister said the government is focusing on export-led growth to reduce the trade deficit.
He said Pakistan is rich in natural resources, with Thar coal being a valuable energy resource utilized to meet the country’s electricity needs.
The Prime Minister further said a comprehensive plan is being developed to modernize the industry of precious and rare gemstones in Pakistan.
He said growth in small and medium enterprises and agricultural production is crucial for a positive economic direction, and the government is taking vigorous measures in this area.
Shehbaz Sharif said the development of the agricultural sector is supported by Chinese expertise. Under this initiative, 1,000 Pakistani students and researchers will receive advanced agricultural training in China.
Meanwhile, Prime Minister Shehbaz Sharif has directed the authorities concerned to further improve the services at airports across the country for overseas Pakistanis, tourists, and passengers.
He was chairing a review meeting related to the introduction of reforms in aviation sector in Islamabad today.
The prime minister ordered to operate more counters in order to save passengers from long time during international flights.
He asked to complete the safety audit of aviation sector of current year soon.
In order to promote tourism, Shehbaz Sharif directed authorities concerned to ensure the provision of best facilities for passengers at Skardu International airport.
He further instructed to devise a comprehensive framework related to the extension of Skardu International and Gilgit airports.
The Prime Minister ordered the relevant authorities to ensure the implementation of reforms and policy measures’ steps under the aviation act.
Highlighting the plan for provision of facilities at airports, the Prime Minister said that additional facilities will be available to passengers with the installation of automatic immigration gates under the automated Border Control System.
He expressed gratitude to the Allah Almighty that country’s aviation sector is heading in right direction.
On this occasion, the Prime Minister was briefed that airport management authority and civil aviation are separated to ensure efficient performance of duties of operator and regulator under the aviation act.
He was told that third party validation of all new projects and steps is being ensured.
Shehbaz Sharif was briefed that the number of counters have been increased and the waiting room has also been expanded for the convenience of passengers at Lahore airport.
Meanwhile, work on the feasibility report for the expansion of Skardu Airport will start soon.
The Prime Minister directed authorities concerned to complete these measures within a specified period and to give key importance to the element of transparency.