Now Pakistan is safe place for investment, PM tells int’l conference in Saudia

RIYADH (92 News) – Prime Minister Imran Khan on Tuesday addressed the Future Investment Initiative (FII) conference in Saudi Arabia and highlighted some of the challenges facing his government and his plans to tackle them. Speaking to question answer session at the three-day Future Investment Initiative Conference which began in Riyadh on Tuesday, Imran Khan said that the PTI government has inherited a huge burden of current account and fiscal deficits, adding that the govt are working on different fronts to get out of this financial crunch. Speaking about Pakistan’s current economic situation, the premier said, “We need new loans to pay-off our previous loans.” He also said that the government will overcome the financial crisis in the country seeking assistance from IMF and friendly countries. Imran Khan said that the country will further strengthen the judicial department and will make Pakistan an ideal Islamic country. “The principles of Quaid-e-Azam will be implemented in new Pakistan. The government will prefer main priority to enhance exports,” he mentioned. The prime minister assured for taking steps to eradicate money laundering in the country. He also said that the government is also endeavoring to reform our institutions to check the menace of corruption in mega development projects and white collar crimes. Imran Khan said the government is also going to provide enabling environment for doing business in Pakistan to attract the foreign investors particularly the overseas Pakistanis to invest in various projects in the country. The prime minister informed that the government has initiated project of building 5 million new houses. Pakistan is now safe place for investors, he elaborated to the international community. “Supremacy of law is prerequisite for strong state institutions. CPEC will provide golden opportunities to Pakistan. Striving for revival of politics in Pakistan,” Imran Khan observed. The Prime Minister said the government will provide incentives to overseas Pakistanis to send their remittances through banking channels to enhance foreign exchange reserves and check money laundering. To a question, Imran Khan said his government is focusing on creating jobs for our youth who form the one hundred million population of our country to harness their talent. He remarked that providing employment opportunities to youth is biggest challenge, saying that the government will provide favorable environment to investors. The premier said for this purpose an ambitious plan of constructing five million houses has already been launched to provide affordable shelter to the poor segments of the society. To another question about Pak China relations and the CPEC, the Prime Minister said Pakistan admires the Chinese leadership's measures to bring out seven hundred million population out of poverty and convicting over four hundred corrupt elements to purge their society of corruption and crimes. He said CPEC is a flagship project under Belt and Road initiative of President Xi Jinping and it would help the entire landscape in the region through greater connectivity and development projects. He said the CPEC would open up road and sea routes for Pakistan through Gwadar, Central Asia and the Middle East. PM Khan said Pakistan is going to set up special economic zones along the CPEC routes to generate economic activity and employment for our people. He particularly highlighted the investment opportunities in Pakistan in the minerals including coal, copper, zinc, oil and gas and religious tourism. To a question about terrorism, Prime Minister Imran Khan said Pakistan has achieved great successes in the fight against terrorism due to unprecedented sacrifices in human and material. He said that Pakistan needs a lasting peace and stability to provide an enabling environment to the local and foreign investors in different projects in the country. The prime minister remarked that terrorism has been curbed due to efforts of Pakistan Army and the intelligence agencies in the country. He said we also want peace with all our neighbors particularly India and Afghanistan for regional peace and stability. Imran Khan said peace with India would help the two countries to divert their resources towards human development instead of indulging in arms race. “Pakistan is minerals-enriched country. The government will take steps to promote IT sector and committed to ensure quality education for women,” he said. He said similarly peace in Afghanistan would help Pakistan to have an easy access to the Central Asian States for bilateral economic and trade activities. PM Imran arrived in Saudi Arabia on Monday on a two-day official visit to attend the investment conference that numerous other world leaders and corporates have skipped over the issue of dissident journalist Jamal Khashoggi's death. Earlier, Khan was welcomed by Governor Faisal bin Salman bin Abdulaziz Al Saud, paid a visit to the Roza-e-Rasool (PBUH) before departing for Riyadh to attend the Future Investment Initiative (FII) conference.