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Saturday November 27, 2021

Pakistan needs investment for industrialisation: PM

October 12, 2021
Pakistan needs investment for industrialisation: PM

ISLAMABAD: Prime Minister Imran Khan Monday said Pakistan needs investment to accelerate industrialisation and added it is critical to create maximum employment opportunities for our growing population, 65% of which is under the age of 35.

The prime minister directed the authorities concerned to take all possible measures to provide land, electricity and gas connections and tax incentives to attract more and more Chinese companies to invest in Pakistan and populate SEZs.

To this effect, Prime Minister Imran Khan chaired a meeting on facilitating Chinese investors in the Special Economic Zones (SEZs). The meeting was attended by Chinese Ambassador to Pakistan Nong Rong, federal ministers Shaukat Fayyaz Tarin, Makhdoom Khusro Bakhtiar, Asad Umar, Muhammad Hammad Azhar, Advisor on Commerce Abdul Razak Dawood, SAPM on CPEC Affairs Khalid Mansoor and senior officers concerned.

Earlier, the prime minister was briefed that out of the total 27 SEZs in the country, work on five SEZs (Dhabeji in Sindh, Rashakai in KP, Bostan in Balochistan, Allama Iqbal Industrial City in Punjab, and Gwadar in Balochistan) is in full swing.

The meeting was told that an effective one window operation facility is being set up at each of these SEZs and a Facilitation Center in CPEC Authority to resolve all issues of the potential Chinese investors under one roof.

Meanwhile, Premier Imran said minerals’ sector holds huge potential for contributing to overall economic growth, adding fast track implementation required to develop legal framework for minerals’ development.

Prime Minister Imran Khan, while chairing a high level meeting regarding mineral development framework here, said that minerals sector holds huge potential and offers good returns for investment: It can contribute towards overall economic growth of the country.

He emphasized that a coordinated effort is required to beef up efforts for minerals development between the federation and provinces. The prime minister directed that a focal person be appointed at the earliest to act as a bridge between the federal and provincial governments and to supervise implementation of minerals’ development framework.

The premier said that international models be studied for lessons learning and capacity building of indigenous human resource to be employed for minerals’ development. He directed that goals and targets of the mineral development framework be completed within their allocated timelines.

Earlier, the secretary Petroleum briefed the meeting about Strategic Plan for Mineral Development. It was informed that presently the minerals’ sector contributes less than 1% to the GDP and implementation of the strategic plan will enhance share of minerals to 10% of GDP over the next 15 years. The plan consists of harmonising federal and provincial efforts, technical outreach, database development, fiscal incentives, training indigenous human resource and legal framework. The strategic plan is further categorised into short, medium and long term targets.

The meeting was attended by federal ministers Shaukat Fayaz Tarin, Muhammad Hammad Azhar, Asad Umar, and Advisor on Commerce Abdul Razak Dawood, SAPM Dr Shehbaz Gill, DG FWO and senior federal and provincial officers.

Meanwhile, PM Imran directed to ensure the participation of youth and children in the Ashra of Rehmat-ul-Alamin and said the principles of the Holy Prophet’s (PBUH) daily life should be highlighted. The Holy Prophet (peace and blessings of Allah be upon him) came down as a mercy for the whole universe. The life of the Prophet (Peace be upon him) is a beacon for all humanity. In this connection, Prime Minister Imran Khan chaired a meeting on the Ashra of Rehmat-ul-Alamin and 12th Rabi-ul-Awal.

A briefing was given to the prime minister on the action plan for the Ashra. The meeting was attended by federal ministers Chaudhry Fawad Hussain, Noor-ul-Haq Qadri, Special Assistants Dr Shahbaz Gill and Arsalan Khalid.