PM Shehbaz Sharif expresses gratitude to China for supporting Pakistan by extending US $ 1 billion loan facility

Islamabad: Pakistani Prime Minister Muhammad Shehbaz Sharif has expressed his gratitude to China for supporting Pakistan during the economic constraints by extending US $ 1 billion loan facility.

Addressing a ceremony of the Prime Minister’s National Innovation Awards, he stressed that during the last 75 years, foreign debts proved a hefty burden upon Pakistan whereas those nations had progressed that utilized the foreign loans and returned it on the basis of their talent, honesty and skills.

“We have to get rid of these debts as they could not thrive on the foreign debts,” he said, adding the country was gifted with precious resources.

He said the challenges were faced by the nations and stressed that they should make a promise to change the fate of Pakistan without seeking foreign debts.

The PM acknowledged that China stood by Pakistan in difficult time. He said and lauded the role of other brotherly and friendly countries of Saudi Arabia, United Arab Emirates (UAE) and Qatar.

“China has (so far) made a US $ 30 billion investment in the flagship China-Pakistan Economic Corridor (CPEC) project,” he added.

Terming the achievements of young innovators as ‘outstanding’, the prime minister lauded the contributions of their teachers and parents, saying the entire nation felt pride over them.

Referring to awarding amount, the Prime Minister said Rs 1 million to each winner was not sufficient considering the current inflation, as it was less when compared with the past.

He stressed that they had to make huge investments on the country’s youth because those nations had always excelled whose youth got skills and requisite degrees in different fields.

The PM expressed his pleasure over the strides made by the country’s youth in different fields by utilizing their talents and skills.

The country’s future was in safe hands and they had to make investments on the youth’s talent as they direly deserved it, he added.

The PM said it was a matter of satisfaction as the young people strived during their educational careers and showed their innovative skills in the information technology (IT) sector, biodiesel, traffic lights and motorbikes.

Under the Prime Minister’s National Youth Award Programme, a total of Pakistani Rs 160 million was distributed among the 100 talented youths who had achieved innovative business projects. The ceremony was also attended by ministers, parliamentarians and foreign ambassadors.

The PM mentioned that Pakistan was facing financial challenges, but he was confident that they would steer the country out of the issues.

Such situations arose in the lives of nations, he said, stressing that the Pakistani nation had to make the determination and chart its way forward and once they had decided, then nothing could hamper it.

The Prime Minister reminded that during the Covid pandemic, those laptops helped the students to continue their educational activities, besides providing them with self-employment opportunities.