Policy reforms and resource optimization key to economic growth.
Islamabad: To tackle the nation’s economic woes, Prime Minister Shehbaz Sharif has issued a rallying call for decisive action. Emphasizing a dual approach of policy reform and harnessing the country’s abundant natural and agricultural resources, the Prime Minister has set forth a comprehensive plan to steer the nation towards economic rejuvenation.
Under the PM’s directive, priority initiatives include raising the Tax to GDP ratio, curbing smuggling and electricity theft, and safeguarding state-owned enterprises from losses through efficient management and potential privatization.
Central to this strategy is the acceleration of efforts under the Special Investment Facilitation Council (SIFC) to catalyze economic recovery. This council, led by the PM, aims to streamline investment processes and foster a conducive environment for business growth.
Furthermore, the PM has charged the Petroleum Division with ramping up gas exploration and production in accordance with the stringent guidelines outlined in the tight gas policy. This policy not only seeks to enhance domestic energy reserves but also encourages investment in subsea oil and gas reserves, thereby stimulating economic activity and job creation.
The critical role played by the Special Investment Facilitation Council (SIFC) in endorsing the Tight Gas Policy underscores the govt’s commitment to providing attractive incentives for exploration and production companies, fostering a climate conducive to sustainable economic development.
Foreign Minister Leads Efforts to Enhance Airports, Boost Economic Diplomacy
In a significant step towards modernizing Pakistan’s aviation sector and attracting foreign investment, Foreign Minister Muhammad Ishaq Dar chaired a pivotal meeting of the Steering Committee on the outsourcing of Islamabad, Karachi, and Lahore Airports. The gathering, held at the Ministry of Foreign Affairs in Islamabad, brought together key stakeholders from various ministries and international finance institutions.
Under the chairmanship of Minister Dar, the committee reviewed the progress made thus far in the outsourcing project, which aims to enhance airport infrastructure and services through private investment. Highlighting the positive momentum, the Country Director of the International Finance Corporation (IFC) underscored the growing confidence of international investors in Pakistan’s economic potential. Notable interest has been expressed by investors from Qatar, UAE, Germany, Turkey, Netherlands, Malaysia, and local consortia.
Recognizing the importance of fostering investor confidence, Minister Dar pledged unwavering support through economic diplomacy initiatives. In a bid to accommodate prospective bidders’ requests for additional time to complete due diligence, the committee approved a 60-day extension for bid submissions, demonstrating the government’s commitment to ensuring a successful outcome for this flagship project.
Beyond airport privatization efforts, the meeting also addressed the resumption of Pakistan International Airlines (PIA) flights to Europe and the UK. Minister Dar reaffirmed the Foreign Office’s commitment to providing full diplomatic support in alignment with the newly adopted strategy of economic diplomacy. This strategic approach not only promotes economic growth but also serves the interests of the Pakistani diaspora residing in the UK and EU.
The proactive measures taken by the government, under the leadership of Prime Minister Shehbaz Sharif, underscore a concerted effort to stimulate economic recovery and bolster Pakistan’s standing on the global stage. With a focus on fostering partnerships and leveraging diplomatic channels, Pakistan is poised to unlock new opportunities for growth and prosperity in the aviation sector and beyond.
Each federal cabinet member allocated 1,800cc vehicle
Prime Minister Shehbaz Sharif’s 19-member federal cabinet has been allocated official vehicles.
According to sources within the government, each member of the cabinet has been provided with an 1,800cc vehicle, consistent with their entitlements, in a move aimed at facilitating the operations of the federal cabinet.
The allocation of official vehicles was coordinated by the Cabinet Division, which oversaw the distribution of vehicles to the respective ministries of all ministers.
Sources indicate that the central carpool of the cabinet now boasts approximately 100 official vehicles, ensuring seamless mobility for cabinet members as they carry out their official duties.
The provision of official vehicles to cabinet members is a standard practice aimed at facilitating their mobility and enabling them to fulfill their official duties effectively. As Prime Minister Shehbaz Sharif’s cabinet settles into its roles, the allocation of official vehicles reflects a proactive approach to governance and administration.
On March 11, President Asif Ali Zardari administered the oath of office to a 19-member federal cabinet. The oath-taking ceremony was held at the President House, which was also attended by Prime Minister Shehbaz Sharif, among others.
According to sources familiar with the matter, the prime minister had recommended the appointment of 19 individuals as federal ministers, under clause 1 of Article 92 of the Constitution.
Among those who took the oath as federal ministers are Attaullah Tarar, Khalid Maqbool Siddiqui, Jam Kamal, Ameer Muqam, Awais Laghari, Khawaja Asif, Ahsan Iqbal, Rana Tanveer, Abdul Aleem Khan, Azam Nazir Tarar, Chaudhry Salik Hussain, Qaiser Sheikh, and Riaz Pirzada.
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Moreover, Muhammad Aurangzeb, Ahad Cheema, and Mohsin Naqvi also took oaths and were appointed ministers of state with the status of federal ministers.
Furthermore, Dr Musadik Malik and former finance minister Ishaq Dar, who do not hold any seat in any house of parliament, also took oath. They have been appointed federal ministers under clause 1 of Article 92 of the Constitution, read with clause 9 of Article 91.
PML-N’s Shaza Fatima Khawaja has also been included in the cabinet as a minister of state for IT and telecommunication. Significantly, no lawmaker from the PPP is part of this initial cabinet formation.
