ISLAMABAD -  Prime Minister Nawaz Sharif has said that revamping of national economy was a big challenge before them and the government had taken bold decisions to put the economy back on the right track.

The PM expressed these views while taking a briefing on impact of the steps taken by the government on the national economy by Federal Minister for Planning and Development Ahsan Iqbal. He said, “avenues for development have been made available and we need dedicated and innovative people to take on the opportunities and put our country on fast track development.”  Nawaz said that the Terming the Chinese investment in Pakistan a good omen Prime Minister said that it was all due to the bold steps taken by the government that foreign investors are feeling more comfortable and confident to come here.

Ahsan Iqbal briefed the Prime Minister on his visit to China. He told that Pakistan and China have prioritised areas of investment. The prioritisation is based upon significance to bilateral connectivity, socio-economic urgency and impact and quicker completion time.  In Energy Sector 16 projects have been identified where Chinese investor has shown their interest. It includes solar, coal and hydel power projects.

These are short to medium term projects and the power generation will be available in five years, he added. He said that in infrastructure, Chinese have agreed to invest in upgradation of Raikot-Islamabad section of Karakoram Highway, construction of Karachi-Lahore Motorway and upgradation of Gawadar Port. In Gawadar an integrated development plan of Gwadar city has been planned which includes infrastructure facilities, and construction of Gawadar Airport, Ahsan added.

The minister also said that both China and Pakistan have made their respective Planning Working Groups for jointly working on planning, identifying and prioritization of projects in different sectors.

The PM constituted a six-member committee including Finance Minister Ishaq Dar, Planning Minister Ahsan Iqbal, and Secretary to PM to monitor the progress of these projects, ensure the completion of the projects on fast track and report to him on regular basis on the status of the projects.

PIBIC delegation calls on PM: Prime Minister Muhammad Nawaz Sharif has said that the hallmark of the new energy policy of Pakistan is efficiency, transparency and provision of relief to the common man.

The PM stated this while talking to a delegation of Pakistan International Business and Investment Council (PIBIC), led by Special envoy to PM for Overseas Trade and Investment, Javed Malik. The meeting was also attended by Dr Musadiq Mallik, Special Assistant to PM, and Mifta Aslam, Chairman BOI. Prime Minister said that the present government has identified the energy sector as an engine for growth and has taken a number of initiatives to attract foreign investment for exploration of new energy resources and to make the existing power system efficient. PM added, “We look forward to foreign investors and private entrepreneurs to support Pakistan in its multi-pronged efforts to address this huge energy shortfall through enhanced exploration and production of indigenous resources.”

PM said that efforts are already afoot to reform the national economy in order to tap the vast human and natural resources. We have also relaxed investment regulations to attract foreign direct investment in multiple sectors, he added.