Information Minister Attaullah Tarar said on Friday that the economy and the Special Investment Facilitation Council (SIFC) are the lifelines and redlines for Pakistan.
He expressed optimism about the country's development, highlighting the potential for significant future investments.
“Surely, the economy is our lifeline and redline, linked with the jobs of millions of people,” Tarar said during a news conference in Islamabad, accompanied by Federal Minister for Commerce Jam Kamal.
He added that curtailing inflation, ensuring a bright future for the youth, and enhancing exports and foreign reserves are the government’s primary objectives. “These are our redlines which some disgruntled elements are trying to violate and trespass, and they are surely doomed to fail.”
Tarar criticised the Pakistan Tehreek-e-Insaf (PTI) leadership for actions he claimed were against national interests.
“Don’t be mistaken, foreign investment will definitely come to the country, and we will take all steps to ensure the welfare of the people.”
He lamented that some individuals had tried to make Pakistan's GSP Plus status controversial and were now running a malicious campaign against the SIFC, the government, and the armed forces. “They intentionally targeted the SIFC on social media on the day the UAE pledged $10 billion investment in Pakistan,” Tarar said.
“It is okay if they just target me or criticise my political party; but they are hell-bent on sabotaging the economy, and the nation is witnessing and is fully vigilant to their misadventures.”
Regarding Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur, Tarar pointed out the unprecedented move of presenting a provincial budget before the federal one. “Is there any law in the country, any Constitution or system?
How can they estimate the federal budget and declare 14 per cent receivables by themselves?” he questioned.
“These are our redlines which some disgruntled elements are trying to violate and trespass, and they are surely doomed to fail.”
Tarar highlighted the positive impact of Prime Minister Shehbaz Sharif’s efforts to attract investors, noting clear signs of economic stabilisation. “Steps are underway to create an enabling environment for foreign investors,” he said.
Tarar criticised the Pakistan Tehreek-e-Insaf (PTI) leadership for actions he claimed were against national interests. “Don’t be mistaken, foreign investment will definitely come to the country, and we will take all steps to ensure the welfare of the people.”
He lamented that some individuals had tried to make Pakistan's GSP Plus status controversial and were now running a malicious campaign against the SIFC, the government, and the armed forces. “They intentionally targeted the SIFC on social media on the day the UAE pledged $10 billion investment in Pakistan,” Tarar said.
“It is okay if they just target me or criticise my political party; but they are hell-bent on sabotaging the economy, and the nation is witnessing and is fully vigilant to their misadventures.”
Regarding Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur, Tarar pointed out the unprecedented move of presenting a provincial budget before the federal one. “Is there any law in the country, any Constitution or system? How can they estimate the federal budget and declare 14 per cent receivables by themselves?” he questioned.
Tarar reiterated the importance of the SIFC, describing it as the lifeline of the country. He emphasised that three chief ministers are working hard for the welfare of the people, while one is creating chaos. He expressed hope that the SIFC would bring foreign direct investment to Pakistan. “We are ready to sit and work together with all provinces,” he said.
Also read: UAE commits $10b investment in Pakistan
Praising Prime Minister Shehbaz Sharif's recent visit to the UAE, Tarar called it historic, noting the unprecedented affection shown by UAE President Mohammed bin Zayed. He reiterated that the UAE had allocated $10 billion for investment in Pakistan, a significant achievement for both the government and the SIFC.
“The UAE’s official news agency formally reported about the $10 billion investment initiative,” he added. He noted that political opponents seemed upset due to such mega initiatives on the economic and diplomatic fronts. “The successful foreign visits and positive response from host countries is a ‘nightmare’ for the opponents,” he said.
Before the SIFC was established, investors had to visit multiple ministries and divisions due to the lack of a one-window operation. “PM Shehbaz during all his foreign visits clearly indicated that Pakistan would welcome investment, not aid or loans. The international community believes that the country has great potential, immense capabilities, and natural resources,” Tarar said. “Pakistan has 68 per cent youth bulge, natural resources, and skilled human resources.”
During an information technology conference on Thursday, several agreements were signed between Pakistani and UAE companies. Tarar highlighted that this era of collaboration with the private sector is essential for progress, as many advanced nations have developed through this mode of investment. “The current leadership always pleaded for investment and trade during their visits abroad,” he said.
Reflecting on the past, Tarar mentioned that about a year and a half ago, the dollar rate was fluctuating, causing difficulties for exporters. He noted that talks with friendly countries like Saudi Arabia and the UAE had resulted in multiple investment agreements. He added that the late Iranian president, during his visit to Pakistan, had also hinted at enhancing bilateral trade and investment with Pakistan.
Tarar credited PM Shehbaz, the SIFC, and Chief of Army Staff General Syed Asim Muneer with playing crucial roles in saving the country from default and addressing economic issues. “According to the State Bank of Pakistan, exports are increasing, which is a good sign,” he said. He also mentioned that a high-level Saudi delegation was impressed by extensive briefings on investment opportunities during its recent visit.
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