Islamabad (Web Desk): Minister for Information and Broadcasting Attaullah Tarar on Friday said the $10 billion investment package announced by the United Arab Emirates (UAE) reflects confidence of world leaders in Prime Minister Shehbaz Sharif-led government's efforts to revamp Pakistan's economy.
Addressing a joint news conference along with Minister for Commerce Jam Kamal in Islamabad today, he said the warmth shown towards Prime Minister Shehbaz Sharif by UAE President Sheikh Mohammed bin Zayed Al Nahyan is unprecedented.
He said securing an investment package from the UAE is a great victory of the government and the Special Investment Facilitation Council (SIFC) on the diplomatic front.
“Unfortunately, a political party is unable to digest this success of the government to strengthen country’s economy,” the information minister said, adding that the world acknowledges Pakistan's potential to deliver.
He said that PM Shehbaz, SIFC and Chief of Army Staff (COAS) General Syed Asim Munir saved the country from default through joint efforts.
“Resultantly, investments in Pakistan have risen by 172 percent as compared to the last month,” Tarar said.
The minister said that those, who wrote a letter to the International Monetary Fund (IMF) and unleashed a campaign to harm GSP plus status of Pakistan, are now attacking the SIFC at a time when confidence of investors and friendly countries is growing.
He said they are running an organised campaign on social media, targeting government, SIFC and the armed forces.
He said SIFC is lifeline of Pakistan's economy and no one will be allowed to harm it. He said SIFC, under the leadership of Prime Minister Shehbaz Sharif, is ensuring foreign investment by providing an enabling environment to investors.
Referring to Khyber Pakhtunkhwa (KP) government's intention to present provincial budget in advance to the federal budget, the information minister said that they are doing so to deceive the people for political reasons.
He said that it is the federal government, which presents budget estimates on the basis of receivable resources to determine share of the provinces.
The minister questioned as to how a provincial government can make allocations on the basis of assumptions, when the federal government has not presented the federal budget.
Speaking on the occasion, Federal Minister for Commerce Jam Kamal attributed the UAE’s historic investment to PM Shehbaz Sharif’s tireless efforts to address issues affecting the business community and investors over the past two months.
“The government has taken steps to resolve issues related to tariff, energy crisis, competitive pricing, revenue targets, remittances, and building confidence among local and international investors, the minister,” said.
Minister Kamal highlighted that this investment was unprecedented and will be utilized in areas identified by Pakistan.
To a question on trade with India, the minister said that Pakistan would maintain its stance on core issues like Kashmir, which is essential for the country, adding it would not compromise on its core issues and will only move forward on trade when these are addressed.
The minister expressed confidence in the government’s efforts to improve the economy, generate revenue, and create jobs, with preparations already underway.