LAHORE: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal says that four countries have allocated $27 billion for investment through launching various mega projects in Pakistan under framework of the Special Investment Facilitation Council (SIFC).

“The SIFC is a very useful institution and framework under which our four brother countries have allocated $27bn for investment. Saudi Arabia allocated $5bn, UAE and Kuwait $10bn each and Azerbaijan $2bn,” he said while responding to various questions at a press conference in Lahore on Saturday. “And this is the vision of our Prime Minister Shehbaz Sharif who wants investment from friendly countries instead of getting loans from them,” he added.

The minister said the investment is expected to be made within the next two to four years, as, presently, the government is busy in preparing feasibilities for various projects.

According to him, Pakistan seeks trade, not loans, from China and Saudi Arabia. These two countries have consistently provided unconditional support in times of need since the existence of Pakistan. He said talks with the IMF were underway and soon an agreement would be finalised.

Says any party having economic revival plan must share it with govt

Flanked by secretary general, the Institution of Engineers Pakistan Engineer Amir Zamir Ahmed Khan and Usman Farooq, member Pakistan Engineering Council, Ahsan Iqbal said the PML-N,under Nawaz Sharif’s leadership, have put Pakistan’s economy back on track. He was of the view that the ongoing period is not a time for long marches or spreading chaos. He said any party having a programme for economic recovery must share it with the government.

Regarding the energy crisis, Iqbal assured that it would be controlled within a year. Additionally, the inflation rate will be brought down to single digit by the end of the year.

He said the interior minister has been asked to get the irregularities in the Engineers Council elections investigated. “I couldn’t even cast my vote in the election due to a glitch,” he added.

Ahsan said in a bid to revitalise Pakistan’s economy, Prime Minister Shehbaz Sharif is set to announce a comprehensive five-year plan outlining national economic goals. The plan aims to address pressing issues such as the energy crisis, tax evasion, and instability. “Pakistan must avoid chaos and instability to achieve progress and development,” Ahsan emphasised. “Without peace, there will be no investments, and the energy crisis will persist.”

He urged traders to contribute to the country’s progress by paying taxes, highlighting that 70 per cent of taxes are borne by the industrial sector, while the service sector’s contribution is negligible. He said that tax evasion forces the government to borrow from others and sign agreements with the IMF.

In a message to opposition parties, particularly Jamaat-I-Islami, Ahsan appealed for collective efforts to resolve issues. “If they have an alternative plan, they should present it. We will open our books and share all resources to tackle the challenges.” He emphasised for paying tax and said: “We must pay taxes and curb electricity theft. Strikes and shutdowns will only harm the national economy. This is not the time for protests and exploiting people’s emotions.”

In another media talk, the minister criticised Imran Khan for making unnecessary noise over the facilities in Jail. “He (Imran Khan) is living in five-star jail having cooked meal, exercise machines etc. But when I was sent to jail by Imran Khan’s government, it didn’t even allow me for physiotherapy of my arms that was operated by doctors three days before he was imprisoned. And due to this my arm became deformed forever,” he deplored.

He said Imran Khan is allowed to meet his lawyers, party leaders, talk with media besides having other facilities. But during Imran Khan’s government, he and other PML-N and opposition leaders were not even allowed to meet their lawyers. “I haven’t seen or heard that Imran Khan is sweating while he appears in court. But, on the other hand, I have seen Nawaz Sharif, three-time PM, sweating in jail,” he said, adding that the government has never thought of taking revenge from Imran Khan.

Published in Dawn, September 1st, 2024