F.P. Report
ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Thursday said that he would personally monitor the Saudi investment projects and warned against any laxity due to red tape or outdated procedures.
The prime minister, chairing a meeting to review the matters related to the recent high-powered Saudi delegation and Saudi investment in different sectors, thanked Saudi Crown Prince Mohammed bin Salman for sending a high-level Saudi delegation that would usher new era of Saudi investment in Pakistan, trade partnership as well as business ties.
He lauded the relevant federal ministers, Special Investment Facilitation Council and relevant senior officers for their efforts for converting the Saudi delegation’s visit into a mutually beneficial partnership. The prime minister instructed the authorities concerned to engage world-class experts to execute the foreign investment projects and called for capacity building of the ministries to achieve the desired results.
He asked the Board of Investment, SIFC and relevant ministries to devise a mechanism to ensure execution of the projects agreed with the Saudi delegation. He told the expected visit of a delegation of prominent Saudi businessmen to Pakistan was welcoming and that further investment opportunities would also be explored during his visit to Saudi Arabia to attend the World Economic Forum to be held in the Kingdom. He said both Pakistan and Saudi Arabia enjoyed cordial brotherly ties and the Kingdom always supported Pakistan in every hour of need.
Prime Minister Shehbaz thanked the Saudi King and Crown Prince for their keen interest in promoting cooperation and partnership with Pakistan. He reiterated his government’s resolve to take all possible measures aimed at the country’s progress and prosperity.
The meeting was briefed about the Saudi delegation’s interest and offer for different projects as both sides had discussed investment prospects in the fields of mining, agriculture, energy, information technology and infrastructural development. Both sides had also deliberated on making Pakistan part of global supply chain and value chain which was highly appreciated Pakistan’s preparedness in this regard.
The participants of the meeting viewed that the visit of delegations from friendly nations to explore investment opportunities was welcoming and termed it as the success of the current government on the diplomatic front. The prime minister directed all the concerned ministries and departments to also pay special attention to the government-to-government agreements and business-to-business projects and in this regard the local business community should be taken in confidence.
The meeting was attended by Federal Ministers Mohammad Ishaq Dar, Khawaja Muhammad Asif, Jam Kamal Khan, Ahad Khan Cheema, Ataullah Tarar, Rana Tanveer Hussain, Ahsan Iqbal, Salik Hussain Chaudhry, Sardar Awais Khan Leghari, Abdul Aleem Khan, Dr Musadik Malik, Minister of State Shaza Fatima Khawaja, Special Assistant Tariq Fatemi, Deputy Chairman Planning Commission Muhammad Jehanzeb Khan, members of National Assembly Bilal Azhar Kayani and Rumina Khursheed Alam, Coordinator of the prime minister Rana Ehsan Afzal and other relevant authorities.
Meanwhile, the Prime Minister Shehbaz Sharif directed the relevant authorities to accelerate the process of privatization and outsourcing of the power distribution companies (Discos).
Chairing a high-level meeting regarding power sector here, the prime minister said the assistance of private sector experts and globally accepted models should be taken to improve the management affairs of the distribution companies (DISCOs). He also directed to prepare and present a comprehensive plan in the next meeting to improve the power system in the country.
The prime minister said reforms in the power sector would help reduce the country’s circular debt. He also vowed not to allow electricity thieves and other elements to harm the country’s treasury. In the meeting, the recommendation and measures with respect to prevent the power theft, reorganization of National Transmission and Dispatch Company (NTDC) and new projects of the electricity transmission were presented.
The meeting was told that Matiari-Rahim yar Khan transmission line and Ghazi Barotha-Faisalabad line will be constructed to ensure the power transmission from Southern part of the country. The meeting was further informed that a comprehensive strategy had been evolved for the reorganization of NTDC to bring reforms in the power transmission system and to minimize the government’s circular debts.
The prime minister directed to complete all the reforms’ initiatives within the stipulated time. The meeting was attended by the federal ministers Mohammad Ishaq Dar, Khawaja Muhammad Asif, Ahad Khan Cheema, Sardar Awais Khan Leghari, Dr Musadik Malik, Abdul Aleem Khan, Ataullah Tarar, Syed Mohsin Raza Naqvi, former power minister Muhammad Ali, Deputy Chairman Planning Commission Jehanzeb Khan, Member of National Assembly Bilal Azhar Kayani, Engineer Qamar ul Islam, Rana Ehsan Afzal, Salman Ahmed and other concerned officials.
PM witnesses signing of letter of intent between PMYP, UNICEF: Prime Minister Muhammad Shehbaz Sharif on Thursday witnessed singing of a letter of intent regarding the United Nations Generation Unlimited (GenU) programme between Prime Minister’s Youth Programme and the UN International Children’s Emergency Fund (UNICEF).
GenU was launched by the Secretary General of the United Nations in 2018 with the aim to empower the youth through education, technical training and entrepreneurship and working towards early education and training. GenU is planning to start its full operations in Pakistan with an initial investment of 20 million Euros in youth related projects.
Signing the document will help provide equal opportunities to education and training to the youth. GenU and the PM Youth Programme will work together on operational strategic framework in this regard. Earlier the UNICEF delegation headed by representative of UNICEF in Pakistan Abdullah A Fazil called on the prime minister. Chairman PM Youth Programme Rana Mashhood was also present in the meeting.
The delegation apprised the prime minister about the collaboration between the PM Youth Programme and UNICEF regarding increasing the capacity of the youth in Pakistan. The prime minister appreciated the steps being taken by UNICEF for the welfare of children all over the world, including Pakistan.
