In view of caretaker Prime Minister Anwar-ul-Haq Kakar, free, fair and transparent elections are to be held in the country, but along with this, he is also active in dealing with challenges and bringing foreign investment in Pakistan.

While talking to journalists at his residence, he reiterated his commitment that all possible support will be provided to expedite the holding of general elections in accordance with the constitution. He said that Saudi Arabia will invest dollars 25 billion in Pakistan during the next two to five years.

There will also be an investment of 25 billion dollars from the Gulf countries. The government will also restore the privatization process. The investment of 25 billion dollars by the Saudi government will be a major step towards the recovery of the country's economy and it will be the largest investment of the Saudi government so far. Although the caretaker prime minister did not identify Saudi Arabia's investment plans, Barrick Gold Corporation last month said it would welcome Saudi Arabia as Pakistan's partner in the Rekodic project. Pakistan's mineral resources are worth $60 trillion, while Recodek believes it is among the world's largest reserves of copper and gold. In the meeting presided over by the caretaker Prime Minister, the total electricity production, efficiency and total transmission of electricity in different seasons, the losses of the distribution companies and the data of electricity theft were presented. The Prime Minister also directed to initiate strict action against electricity thieves and defaulters and to find unconventional solutions to provide relief to consumers.

There are vast investment opportunities in Pakistan which can be utilized to change the destiny of this country and nation suffering from economic crisis. China Pakistan Economic Corridor (CPEC) is the biggest project in this regard. This grand project of investment of billions of dollars started in 2013, ten years of which have been completed. Not only Pakistan, Iran, Afghanistan, Central Asia and the Middle East will get its fruits, but due to hatred of China, some forces, especially India, started blocking it from the very first day, due to which this project delayed.

There was a delay in the delivery. The previous coalition government in Pakistan removed the local obstacles after coming to power and now there are signs of doubling the speed of its implementation. Pakistan has also made a generous offer to India to benefit from the fruits of the CPEC instead of being an obstacle. At a time when almost all the surrounding countries have indicated to join the CPEC, India should also respond positively to this offer. Addressing a ceremony in Islamabad on the completion of ten years of CPEC and in a statement issued from the Government, had said recently that it is a plan to end poverty, unemployment and economic depression. This is not just an improvement in road, rail, sea and air routes, but a wonderful plan to participate in health, education, skills and development process and to raise the standard of living of the people in the region and lift them out of poverty and live in peace. This will increase industrial and agricultural cooperation and productivity in the region and beyond.

If India becomes a part of it instead of hindering it, it will help to end poverty and backwardness in this country of more than a billion people. For this, it will have to review its expansionist policy and resolve its disputes with other countries of the region on the basis of peace and justice, apart from giving the right of self-determination to the people of Occupied Kashmir.  Along with CPEC, Pakistan is also eager to undertake many other initiatives to promote foreign investment and the Pakistan Army is also on the same page with the government in this regard.  The apex committee of the Investment Council which has been established in this regard includes Army Chief and DG-ISI.  A meeting of the committee in which Economic Planning Minister had said that a roadmap has been prepared for attracting foreign investment in five economic sectors and their development.

These sectors include agriculture, energy, information technology, minerals and defense production.

Foreign investors will be provided with all the facilities under one roof under one window operation to invest in them and special security facility will also be provided.

Friendly countries will be asked to invest in Pakistan instead of aid. Foreign investment will create employment opportunities and open new avenues of development. Accelerating the pace of CPEC, these foreign investment incentives are auspicious for the economic recovery of the country, by implementing which Pakistan can get out of the current difficulties and become the most prosperous country in the region.

This year, ten years of this project have been completed, to celebrate which special events are organized in both the countries. Chinese leadership and scholars are being invited to the events in Pakistan while Pakistani delegations will go to China.

In these ten years, many development projects have been completed in various sectors of Pakistan's economy with Chinese investment and many are under completion. In the next phase, there is a plan to lay a railway line from Gwadar to Kashgar, apart from this, work is also underway on the target of completing Karachi Circular Railway, energy, agriculture, science and technology, IT and many other infrastructure projects. Gwadar, which was once a small fishing village, has now become a major port of international importance, opening sea routes between Pakistan and the outside world beyond Karachi.  After the completion of the first phase of the Free Trade Zone in Gwadar, the second phase is under construction. This will help control  the current economic crisis in Pakistan to some extent.

Published in The Daily National Courier, September, 07 2023

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