PM Khan insists ‘difficult times are over’

By News Desk

NOWSHERA: Prime Minister Imran Khan on Friday launched the Rashakai Special Economic Zone (RSEZ), under the umbrella of the China-Pakistan Economic Corridor (CPEC), as he declared the “difficult times are over”.

Addressing commercial launch of the RSEZ project, Khan said the government had come out of the difficult economic situation and the country’s economy was showing an upward trajectory with increased foreign exchange reserves and record remittances from overseas Pakistanis.

He appreciated the assistance of brotherly countries including China and Saudi Arabia when his government was passing through the difficult economic situation after he took over in 2018.

Khan said increasing exports was imperative for sustainable economic development and bolstering industrialisation to generate employment opportunities and attract direct foreign investment (FDI).

The Prime Minister termed the RSEZ a landmark project that would help attract direct foreign investment, ensure inclusive economic development in Khyber Pakhtunkhwa (KP) and also create significant job opportunities for the youth and skilled workforce.

The economic zone, for its important location for Afghanistan and Central Asian States (CARs), would accelerate the pace of economic and industrial development and take the country’s exports to new heights and turn the province into a hub of trade and investment.

Khan said Pakistan was blessed with all natural resources and has potential to achieve new heights of economic progress like China by promoting export-oriented, income generating industries and small and medium enterprises sectors.

“We can benefit from China’s expertise and RSEZ can provide unique opportunities to our domestic investors to learn from Chinese investors,” he remarked. He said the government would provide all necessary incentives and facilities to investors and all the bottlenecks were being removed to attract more investors from across the globe.

When the PTI government took over, he said the country had about 20 billion dollars current account deficit and in last eight to ten months, the current account was in surplus “due to our prudent economic policies”.

He also took the opportunity to fire a salvo at the opposition, who cast aspersions on the economic data claiming the GDP growth. He said the achievement of about 4 per cent economic growth rate this year had “unnerved our political opponents”.

Khan said record sales of vehicles and fertiliser was witnessed and sugar mills were now bound to make quick and full payments to farmers, contrary to the policies of past governments. As a result, “record production” of wheat, maize, sugarcane and rice was achieved this year that brought prosperity to the lives of farmers. Khan also urged overseas Pakistanis to send their remittances through banks and invest it in special economic zones like Rashakai.

The Prime Minister said his government’s coronavirus policies have been globally lauded, adding on one hand his government had protected the nation from the fatal corona disease and on the other, from starvation and hunger by adapting the smart lockdown policy.

He promised the rights of landowners would be protected and economic zones’ lands would be provided on lease.

Chinese Ambassador Nong Rong, in his address, said RSEZ would help strengthen the economies of both countries and promote business activities. Nong, while appreciating the economic and investment policies of Pakistani government, promised more Chinese investment would come to Pakistan.

He said the confidence of foreign investors was restored due to Pakistan government’s “investment-friendly policies” that would bolster business, industrialisation and attract foreign investment.

He said Pakistan and China have time-tested friendly diplomatic relations spread over 70 years, which would further grow under the leadership of Prime Minister Imran Khan.

The event was also attended by KP Governor Shah Farman, Chief Minister Mahmood Khan, CPEC Authority Chairman Lt-Gen (retd) Asim Salim Bajwa, provincial ministers, Chinese and Pakistan investors and other officials.