Pakistan importing coal from Afghanistan for CPEC power projects: Shehbaz Sharif

Islamabad: Prime Minister Shehbaz Sharif has said that coal from Afghanistan was being imported for power projects under the China-Pakistan Economic Corridor (CPEC).

Addressing the inaugural session of Turn Around Pakistan Conference hosted by Ministry of Planning and Development in Islamabad, the Prime Minister said the import of coal from Afghanistan will not be delayed anymore.

“we are now importing coal from Afghanistan to address the issue of power outages. He said since this transaction will be in Pakistani rupee, this will help country save two billion dollars. This coal is suitable for the power projects installed under the CPEC,” he contended.

Prime Minister Sharif expressed the resolve to take the country towards economic stability in the next fourteen months.

He however, stressed the people will have to rise above personal interests and take such long term decisions which change destiny of the country.

Shehbaz Sharif informed that Pakistan will receive US $ 2 billion from the International Monetary Fund (IMF) but “our ultimate goal is to achieve self-reliance as it only guarantees to independently take political and economic decisions.”

The Prime Minister remarked that the country was faced with difficult challenges but it is our utmost effort to collectively steer the country out of them.

He expressed satisfaction that majority of the affluent class has accepted the super tax which will help generate Pakistani Rs 230 billion.

He assured that this money will not be spent on current expenditures but will be used for economic development.

He said a policy will be framed very soon which will encompass these development schemes.

The Prime Minister asked participants of the conference to give suggestions for uplifting agriculture and agro based industries and bolstering of exports besides that do away with obstacles in the way of businesses and investment.

He underscored that the government wanted to end red-tapism.

Speaking on the occasion, Finance Minister Miftah Ismail said Pakistan no longer faces the threat of default.

He claimed the government aimed to reduce the Primary deficit from Rs 1600 billion to Rs 125 billion surplus during the current fiscal year.

In his remarks, Minister for Planning and Development Ahsan Iqbal said Pakistan can achieve self-reliance by pursuing the path of bringing structural reforms and bolstering exports by promoting the industrial and agriculture sectors.

Emphasizing the need for equal development, Ahsan Iqbal observed that Prime Minister Shehbaz Sharif had envisaged a program to uplift twenty poorest districts on fast track basis in order to reduce the gap of development.