Pakistan’s economy turned around; country heading to a bright future
Prime Minister Muhammad Nawaz Sharif Thursday said Pakistan's economy has witnessed a great economic turn around and the progress and development was taking the country forward to a bright future at a fast pace. He was addressing the Pakistani community here during his two-day official visit to Qatar. Prime Minister Sharif shared details of his meetings with the Qatari leadership and said they particularly lauded the role of Pakistani community in the development and progress of Qatar. He said he was very proud to get a very positive feedback about the Pakistanis who were working with a commitment and honesty and using their skills in respective fields to bring a good name to their country.
He said Pakistan has strong ties with Qatar and wishes to further strengthen these through enhanced interaction at all levels. The Prime Minister said Pakistan's agreement to import LNG from Qatar was a landmark deal and would help the country meet its energy needs. He said it would help Pakistan generate electricity, produce more fertilizers and use it for domestic needs.
He said according to the Brent rates the LNG deal would bring in gas worth US 15 billion dollars, in the next 15 years on the best rates. He was appreciative of the government of Qatar for providing the gas at very competitive rates to Pakistan.
He said in his meetings he mentioned that the bilateral trade needs to be increased from US 300 million to at least US one billion annually. He said the import of LNG would also boost trade figures between the two countries. He said measures were underway to meet energy shortage besides cutting down the tariff to benefit the consumers. He said it would help lower price of products and make these competitive in international markets. He said foreign exchange reserves today were at historic level and said when compared with the situ- ation three years back a turn around has been witnessed. The Prime Minister recalled his meetings with President World Bank and other financial experts who have particularly noted the positive economic indicators. He said the security situation in country has improved after the Zarb-e-Azb operation, which he said has broken the back of the terrorists and said the operation would be taken to its logical conclusion. He said the people of Karachi have also lauded the success of the operation against miscreants. The Prime Minister said the China Pakistan Economic Corridor will help the country's economy. The Gwadar airport would be one of the most beautiful airports of the world, he added. He said his government was working to improve efficiency of PIA and it would be upgraded to compete with top international airlines. Prime Minister Sharif said numerous projects for power generation were underway and all sources like coal, solar, wind, thermal were being used, with the help of China. He said the nation must keep in view the negligence of the previous governments that did not do their duty of generating electricity. He said the previous governments were duty bound to install units for power generation.