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Pakistan moving on road to growth, development: PM
Prime Minister Imran Khan on Wednesday said with accelerated development spending, stable rupee, 73% decrease in current acco
Prime Minister Imran Khan on Wednesday said with accelerated development spending, stable rupee, 73% decrease in current account deficit, growing exports and enhancing cement sales, Pakistan is moving on the road to development.
“Pakistan is moving on the road to development with accelerated development spending; rupee stable; current account deficit down by 73 percent; exports growing; cement sales up,” Imran Khan said in a tweet posted on his social media account. In his tweet, the prime minister also attached an audio-video report of Planning and Development Division, depicting 39% raise in developing spending during the first eight months (July-February) of the current fiscal year 2019-20, highest during this period of the last six years.
According to the report, the percentage of development spending in July-February period of previous fiscal years remained 32% in 2014-15; 31% in 2015-16; 29% in 2016-17; 32% in 2017-18; and 23% in 2018-19. The report also highlights the government’s commitment and priorities of spending and financial assistance in various projects of national interest, including China-Pakistan Economic Corridor (CPEC).
The report mentioned that the spending of Rs 17.7 billion in the current fiscal year on Karachi-Peshawar Motorway; Rs 24.6 billion on Havelian-Thahkot section of Karakorum Highway Phase-2; starting of work on Rs 309.6 billion Mohmand Dam Hydro Power Project; Rs 3.7 billion on Jaglot-Skardu road; Rs 5.5 billion on the 2nd phase of National Programme for Improvement of Canal System; Rs 3.7 billion on 10 billion tree tsunami programme, and various other projects depicted the government’s seriousness to achieve socio-economic development in the country.
Separately, Prime Minister Imran Khan said the purpose of establishment of special economic zones (SEZs) is to provide every possible facility and incentives to the business community.
Speaking at the fifth meeting of the Board of Approval set up for the SEZs’ establishment, he said the government is committed to provide ease of doing business and favourable environment to the business community to generate more economic activity in the country.
The high-level meeting approved setting up of seven special economic zones in Balochistan, Sindh, Khyber Pakhtunkhwa and Punjab provinces. Establishment of Special Economic Zone Bostan and Special Economic Zone Hub in Balochistan, Special Economic Zone at Rashaki, Nowshera in Khyber Pakhtunkhwa, SEZs at Noshero Firoz and Bholari in Sindh, and SEZs at Bhalwal, Bahawalpur, Rahimyar Khan, Vehari and Allama Iqbal in Punjab were approved. The prime minister directed for setting up a working group comprising ministers for planning and energy, commerce advisor and others for the establishment of SEZs, and making the required laws and regulations more easy to provide facilities to the investors and businessmen. Chairing a review meeting about progress on privatization of various government institutions and properties, Prime Minister Imran Khan said privatization of non-profitable institutions and unused government properties is in the national interest as it will not only reduce burden on the national exchequer but also procure financial resources for social and welfare development projects. The prime minister directed that all possible effort must be done to complete the process of privatization in the stipulated time frame. He said in this context inter-ministerial coordination should be further improved so that quick action to be taken on all unresolved affairs and all hurdles could be removed.
