ISLAMABAD, Dec 6: Prime Minister Raja Pervez Ashraf called on President Asif Ali Zardari on Thursday and discussed with him the political situation and his recent visit to South Korea.

According to sources, the discussion on the political situation was held against the backdrop of the by-elections organised on Tuesday in Punjab in which almost all the seats were grabbed by the Pakistan Muslim League-N.

The president briefed the prime minister about his meeting with the Korean president and his interaction with businessmen during his visit.

According to the president’s spokesman, Farhatullah Babar, he said that among various investment pacts, an agreement had been inked with South Korea for the construction of Malakand Tunnel in Khyber Pakhtunkhwa which would usher in a new era of development in the province.

South Korea will provide $78 million for the project that will provide the shortest route to the people of Dir, Malakand, Swat and adjoining areas and also an easy access to Central Asia for trade.

The prime minister congratulated the president for signing the agreement.

ECONOMIC POLICIES: Earlier, speaking at the annual lunch of the Overseas Investors’ Chamber of Commerce and Industry (OICCI), the president urged the business community and political forces to work together for achieving a consensus on economic policies for the next decade to boost economic growth and ensure robust business activities in the country. He called upon the businessmen and entrepreneurs to play their role in bringing together all stakeholders to ensure continuity of economic policies.

The president urged the provinces to play a proactive role in promoting investment and trade because the 18th Amendment had empowered them to play a much bigger role in this regard. He said the government was aware of the adverse impact of the energy shortage on business and it was the mother of all economic problems.

“Had the energy policy of the previous PPP government not been reversed, there would have been no power crisis today.”