On Tuesday in ISLAMABAD, Prime Minister Shehbaz Sharif emphasised the importance of learning from the previous 75 years’ worth of mistakes and moving forward with concerted effort, collaboration, and dedication by discovering Pakistan’s massive natural mineral and reserve deposits.
The prime minister also stressed the importance of advancing agriculture, IT, and industry.
The Prime Minister, speaking at the “Dust to Development” summit, cited the keynote addresses of several speakers, saying that if their suggestions and proposals were implemented in letter and spirit, he was confident that the country would regain its former glory within the next few years.
Shehbaz lamented that the country’s 75-year journey was marred by sour elements, as they were unable to fully capitalise on the $6 trillion in untapped natural resources.
“The day gives an opportunity to self-contemplation over a journey of last 75 years and the reasons which landed Pakistan into this situation with a begging bowl,” he continued.
He elaborated on his position by saying that the Russians helped Pakistan build the Pakistan Steel Mills in the 1970s, and that in Reko Diq, Pakistan was fined a heavy $10 billion, which, had it been enforced, would have destroyed the country’s entire foreign reserve.
The prime minister noted that Pakistan was likewise converting its reserves of Thar coal for its development.
He said that the natural resources had been underexplored in the past because of the activities of some cartels, and that the underlying financial and political factors necessitated serious reflection.
The prime minister continued by saying that the Chinot iron ores field was the property of the poor in Pakistan, but that it was also the worst possible example of corruption.
He said that it had been given to a Pakistani living abroad with no prior business experience without any bidding taking place, but that the succeeding government had labelled the entire affair as a manifestation of robbery and plunder once it was brought before a court of law.
He said the narrative was heartbreaking, but that nothing happened because NAB was unable to apprehend individuals accused of plunder.
Federal ministers, international delegations, ambassadors, Chief of Army Staff General Syed Asim Munir, specialists, appropriate authorities, and investors were all present at the conference.
The prime minister went on to express his disappointment that earlier administrations in Pakistan had not prioritised improving the lives of the country’s impoverished.
He also gave credit to the Saudi royal family for their $2 billion financial contribution, saying it was important in negotiating a deal with the IMF.
In addition, the prime minister emphasised that Pakistan and Saudi Arabia have always backed each other in every arena and stuck together through thick and thin.
The current administration, the prime minister added, is committed to constructing a powerful nation.
He reaffirmed Pakistan’s interest in cordial relations with every nation for the sake of its citizens.
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He did not specifically mention India, but he did say that war was never the answer to a problem and that they were willing to talk to their neighbours if there were significant concerns to discuss.
The prime minister of Pakistan claimed that the country had been subjected to three invasions in the last seventy-five years, each of which had a negative impact on the country’s ability to grow and provide for its people.
He stressed the importance of having “serious discussions” to resolve the underlying problems. “The neighbours have to understand that unless abnormalities are removed, normalcy cannot take place,” he said.
According to the current prime minister, the present government’s term ends this month.
He remarked that society was deeply divided and that they would not be successful in their endeavours until they showed unity and discipline.
Referring to the newly established Special Investment Facilitation Council (SIFC), the prime minister boasted that it brought together all the relevant parties to work together and speed up the implementation of the country’s development programmes.
Speakers at these events, some of whom were representatives from other countries, discussed the importance of modern technology in the development of Pakistan’s natural resources and proposed various measures to make the country more attractive to foreign investors.
The hybrid civil-military SIFC in Pakistan has given its preliminary approval to 28 projects totaling billions of dollars that would be presented to Gulf countries for investment. These projects include the construction of the Diamer-Bhasha dam and mining operations at Reko Diq in Balochistan’s Chagai district.
According to the list of authorised projects, the SIFC umbrella may attract more investment than the $28 billion allocated to the China-Pakistan Economic Corridor (CPEC) if all of the schemes are adopted by nations like Qatar, Saudi Arabia, the United Arab Emirates, and Bahrain.
The sectors represented first by authorised schemes are the ones dealing with food, agriculture, IT, mining, petroleum, and electricity. Cattle ranches, the $10 billion Saudi Aramco refinery, copper and gold exploration in Chagai, and the Thar Coal Rail connection plan are all on the list.
China has also been offered the chance to invest in the Diamer-Bhasha project as part of CPEC.
