ISLAMABAD: Prime Minister Shehbaz Sharif Monday stated that public money should be invested in such development projects which ensure tangible results.
He chaired a meeting to review the ongoing year’s development budget and proposed projects under the upcoming Public Sector Development Programme (PSDP) for the next fiscal year, PM Office Media Wing said in a press release.
During the meeting, the prime minister said that ministries demonstrating better performance would be given priority in allocation of funds for development projects. He said that water reservoirs and hydropower projects were among the government’s top priorities in the development spending and stressed that water reservoirs enhancement projects would be accorded high priority.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, along with federal ministers and others.
The prime minister also appreciated Finance Minister Muhammad Aurangzeb for successful launch of Panda Bond and its positive reception in the market. During the briefing, the prime minister praised the performance of ministries of railways, information technology and power. He also directed the authorities to encourage public-private partnerships in development projects.
The meeting was informed about the progress made on the current PSDP and was briefed on proposed development schemes and required funding for the next fiscal year.
The relevant officials also presented updates on major national water storage and hydropower projects, including Dasu Dam, Diamer-Bhasha Dam and Mohmand Dam.
Also, PM Shehbaz Sharif Monday underscored Pakistan’s firm commitment to deliver on a robust economic reform agenda, and to ensure investor-friendly policies, building on the government’s vision for rapid growth and digital transformation.
He was talking to Timur Turlov, Founder, Chairman and Chief Executive Officer (CEO) of Freedom Holding Corp., who called on him here, PM Office Media Wing said in a press release.
The prime minister welcomed Turlov to Pakistan, and conveyed his warm wishes for Kassym Jomart Tokayev, President of Kazakhstan. He thanked Turlov for expressing his keen interest in expanding his business operations in Pakistan, including, through establishment of branches, digital financial services, and correspondent banking partnerships.
Stressing enormous potential of Pakistan’s young population, and expanding digital infrastructure in the country, the prime minister invited Freedom Holding Corp. to actively participate in Pakistan’s financial market development. Both sides also discussed possible collaborations in areas such as retail brokerage, Islamic banking solutions, Fintech innovation, and capital market development.
Turlov expressed strong confidence in Pakistan’s economic future, and reiterated his company’s commitment to exploring long-term strategic investments aligned with Pakistan’s development priorities.
Separately, PM Shehbaz Sharif Monday chaired a meeting with Pakistan’s ambassadors to Iran and the Gulf Cooperation Council (GCC) countries at the Prime Minister’s Office.
The ambassadors briefed the PM on the current state of bilateral relations, emerging opportunities and challenges in their respective countries. Issues relating to the strengthening economic diplomacy, enhancing trade and investment ties, remittances, and Pakistani diaspora, were discussed.
The PM highlighted the historic, economic and strategic importance of the GCC countries and Iran in Pakistan’s foreign policy. He directed the ambassadors to work proactively on enhancing bilateral cooperation in trade, investment, energy, people-to-people contacts etc.
The meeting also included discussions on the regional and international situation, with particular focus on promoting peace, stability, and economic cooperation in the broader region.
Also, PM Shehbaz Sharif held a telephone conversation with Prime Minister & Foreign Minister of Qatar Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani. The two leaders exchanged views on bilateral cooperation as well as the evolving situation in the Middle East, with particular focus on the ongoing peace efforts, led by Pakistan.
While expressing his deep appreciation for Qatar’s support to Pakistan’s peace initiative, the Prime Minister reaffirmed Pakistan’s strong commitment to a peaceful resolution of the conflict through dialogue and diplomacy. In this regard, both leaders underscored the importance of sustained international efforts to preserve the ceasefire, prevent further escalation, and restore stability across the region.
The PM conveyed his warm regards for Sheikh Tamim bin Hamad Al Thani, Ameer of the State of Qatar.
Separately, Chinese Ambassador to Pakistan Jiang Zaidong called on PM Shehbaz Sharif on Monday, where matters of bilateral relations between Pakistan and China were discussed.
According to the Prime Minister’s Office, the meeting focused on the longstanding Pakistan-China partnership and explored avenues for further strengthening cooperation across multiple sectors.
Meanwhile, Minister for Defence Production Muhammad Raza Hayat Harraj Monday called on PM Shehbaz Sharif and discussed matters related to the ministry, PM Office Media Wing said in a press release. Political situation in the country also came under discussion.
Also, Chief of the Naval Staff Admiral Naveed Ashraf on Monday called on PM Shehbaz Sharif here. They discussed professional matters related to the Pakistan Navy, according to a PM Office statement.
