Exports’ increase imperative for sustainable economic development: PM

Imran khan
Imran Khan

NOWSHERA, May 28 (APP): Prime Minister Imran Khan here Friday said increase in exports was imperative for sustainable economic development and bolstering industrialization to generate employment opportunities and attract direct foreign investment (FDI).

Addressing commercial launch of ‘Rashakai Special Economic Zone (RSEZ)’ project under CPEC the prime minister said RSEZ was a landmark project that would help attract direct foreign investment, ensure inclusive economic development in Khyber Pakthunkhwa and also create significant jobs opportunities for the youth and skilled workforce.

This economic zone for its important location for Afghanistan and Central Asian States (CARs) would accelerate pace of economic and industrial development and take country’s exports to new heights and turn the KP province into a hub of trade and investment.

Imran Khan said Pakistan was blessed with all natural resources and has potential to achieve new heights of economic progress like China by promoting export-oriented income generating industries and Small and Medium Enterprises sectors. “We can take benefit from China’s expertise and RSEZ can provide unique opportunities to our domestic investors to learn from Chinese investors” he remarked.

He said the government would provide all necessary incentives and facilities to the investors and all the bottlenecks were being removed to attract more investors from across the globe.

When PTI government took over, he said the country was facing about 20billion dollars current account deficit and in last eight to ten months the current account was in surplus due to our prudent economic policies.

He said his government had achieved about four percent economic growth rate this year that had unnerved our political opponents.

The Prime Minister said the government has come out of the difficult economic situation and the country’s economy was showing upward trajectory with increased foreign exchanged reserves and record remittances from the overseas Pakistanis.

He appreciated the assistance of brotherly countries including China and Saudi Arabia when his government was passing through difficult economic situation after he took over in 2018.

Imran Khan said a record sale of vehicles including motorcycles, tractors and fertilizers was witnessed and sugar mills were now bound to make quick and full payments to farmers contrary to the past governments. As a result record production of wheat, maize, sugarcane and rice was achieved this year that brought prosperity in the lives of the farmers.

He urged overseas Pakistan to send their remittances through banks and invest it in special economic zones like Rashakai.

The Prime Minister said his government’s anti corona policies have been globally lauded, adding on one side his government had protected nation from the fatal corona disease and on the other from starvation and hunger adapting smart lock-down policy.

He said rights of landowners would be protected and economic zones’ lands would be providing on lease.

Chinese Ambassador Nong Rong in his address said RSEZ would help strengthen economy of both the countries and promote business activities.

The Chinese ambassador while appreciating the economic and investment policies of Pakistani Government said more Chinese investment would come to Pakistan.

He said confidence of foreign investors was restored due to Pakistan Government’s investment friendly policies that would bolster business, industrialization and attract foreign investment.

He said Pakistan and China have time tested friendly diplomatic relations spread over 70 years which would further grow under the leadership of Prime Minister Imran Khan.

The event was also attended by Governor KP, Shah Farman, Chief Minister KP, Mehmood Khan, Chairman CPEC Authority Lt Gen Retd Asim Salim Bajwa, provincial ministers, Chinese and Pakistan investors and other officials.

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