Pakistan’s progress held back by graft, money laundering: PM

By News Desk

KARACHI: Prime Minister Imran Khan on Tuesday lamented that Pakistan’s upward trajectory had been hobbled by money laundering and corruption as he inaugurated a ship lift and transfer system at Karachi Shipyard, which would help improve the efficiency of the shipping sector.

Speaking on the occasion, the Prime Minister expressed his regret that Pakistan could not reach the potential of the trajectory it had maintained 50 years ago. “Since I grew up side-by-side with Pakistan, let me say on this occasion that we were not able to progress and reach our potential as we were supposed to,” said Khan in quotes reported by Geo News.

The Prime Minister said instead being self-sufficient and relying on their ingenuity, Pakistanis lost their way. “We became an import-led economy and Pakistan started relying on foreign aid,” regretted the Prime Minister. “We didn’t recognise our power. Whenever someone starts to depend on crutches, his physique deteriorates,” he added.

Nations become strong when become self-sufficient and trust their potential to flourish, he added. He said efforts were under way to check money laundering to stop the loss to national exchequer. The government was focusing on the promotion of exports, encouraging overseas Pakistanis to increase remittances and attract foreign investment.

He said Pakistan had gradually been heading towards prosperity as the government had steered the economy to the right direction with effective and durable policies, according to Radio Pakistan. The Prime Minister said: “These policies are leading to increasing remittances.”

He said the government has been trying to build the country on the principles of Riyasat-e-Madina, which “teaches us to stand our own feet.”

Earlier, the Prime Minister inaugurated the ship lift and transfer system by touching an electronic panel. Federal Minister for Maritime Affairs Ali Zaidi, Minister for Defence Production Zubaida Jalal, parliamentarians and officials of the Pakistan Navy were present on the occasion.

The ship lift will work as a large elevator platform to raise ships out of water for dry-docking ashore and lowering it back into water.

The ship transfer system with its electro-hydraulic trolleys has been designed to transfer ships from ship-lifts to dry berths on land.

Khan termed the installation of ship lift system as an effective use of technology to save revenue and earn foreign exchange by lending services. He paid tribute to Pakistan Navy for the system, which he said would prove to be fruitful in generating economic activity.