Home General Govt extending simplification to expats to invest in Pakistan: PM

Govt extending simplification to expats to invest in Pakistan: PM


ABBOTTABAD: Prime Minister Imran Khan has asked the overseas Pakistanis to invest in their homeland, assuring any hurdle in their way will be removed.
Addressing a ceremony in connection with the ground-breaking of an international hotel in Nathia Gali on Monday, the prime minister said, “Overseas Pakistanis are our biggest asset; however, it is regrettable that this potential has not been tapped in true sense. It is also because of the lack of opportunities in the country that our talent went abroad.”
He said the overseas Pakistanis require ease of process and opportunities for investment. The prime minister said the government is now extending facilitation to the overseas Pakistanis to invest in Pakistan. He said this will help enhance foreign exchange reserves and provide job opportunities to the youth.
The prime minister said, “We have waged a relentless struggle for rule of law in the country. PM Imran further stated that only those societies progressed where rule of law prevailed. “Countries where law isn’t supreme have not been witnessing prosperity,” he added.
He further stated that influential figures who have amassed wealth abroad are launching attacks on the government because they don’t want rule of law to prevail. “These people want to continue benefiting from a corrupt system,” he said. He expressed the confidence that this will lead to luring more investments in the country.
He expressed satisfaction that the industries have now become functional with large-scale manufacturing (LSM) witnessing record growth. The premier said that wealth creation is the biggest need of Pakistan as it can generate job opportunities and increase tax collection.
Highlighting the immense potential of tourism, Imran Khan said the government is giving importance to the sector for wealth creation. He was confident that the country can retire its foreign debt by promoting tourism.
The prime minister assured to extend full facilitation for the development of tourist resorts and promotion of skiing in the country. He said that duty concessions will be given to those importing tourism-related products.
Meanwhile, Prime Minister Imran Khan has directed the Power Division to employ technology to save paying consumers from load-management in low recovery grids.
Prime Minister Imran Khan issued this direction while chairing the 48th meeting of the Council of Common Interests (CCI) on Monday.
The Power Division gave a detailed presentation on preparation of “Indicative Generation Capacity Expansion Plan (IGCEP) 2021”. IGCEP is a plan prepared by National Transmission and Dispatch Company (NTDC) on an annual basis that provides indicative electricity demand and supply for the next ten years based on overall requirements and with least cost. The CCI was informed that the Power Division held several consultative sessions with all provinces and Azad Jammu and Kashmir.
The prime minister stated that the main objective of IGCEP is to determine a plan of action based on meeting the energy needs and providing cheap energy to the masses. He emphasised that the aim of the government is to reform energy generation, transmission and distribution into an efficient system.
The prime minister directed the Power Division to employ technology-based solutions at distribution companies’ level in order to save the interests of paying consumers from the inconvenience of load-management in low recovery grids.
The CCI unanimously approved IGCEP assumptions as recommended by the federal cabinet in its meeting held on August 31, 2021. CCI decided to include hydel electricity in renewable energy targets.
Further, the CCI directed the Power Division to finalise the “wheeling” policy so that it could be rolled out immediately.
The meeting was attended by federal ministers including Hammad Azhar, Dr Fehmida Mirza, Asad Umar, Shaukat Tareen, Dr Farogh Naseem, and Fawad Chaudhry , Chief Minister Punjab Sardar Usman Buzdar, Chief Minister Sindh Syed Murad Ali Shah, Chief Minister Khyber Pakhtunkhwa Mehmood Khan, SAPM Tabish Gohar, Minister Finance Khyber Pakhtunkhwa Taimoor Saleem Jhagra, Minister Energy Sindh Imtiaz Ahmed Sheikh, Minister Inter-Provincial Coordination Balochistan Umar Khan Jamali, Chairman NEPRA Tauseef H Farooqi, and senior federal and provincial secretaries.
Meanwhile, Prime Minister Imran Khan has said development and promotion of tourism will bring prosperity to Gilgit-Baltistan.
The prime minister said this while talking to Gilgit-Baltistan Chief Minister Khalid Khurshid who called on him on Monday. The meeting exchanged views on promotion of tourism and urban planning in Gilgit-Baltistan.
The prime minister also stressed the importance of developing facilities for tourism in the region. He said the real potential of the region lies in tourism. Promotion of tourism would bring benefits for both GB and Pakistan, said the premier, with employment and prosperity for the former and foreign exchange for the latter.
He said if tourism is handled properly in GB, it will no longer have to ask for funds from the Centre. Rather, it would be the other way around.
The chief minister apprised the prime minister of overall situation and restoration of infrastructure; besides discussing GB Development package. – TLTP