Gawadar:
Prime Minister Shehbaz Shairf claimed the “unconditional support” of friendly countries helped the Pakistan Democratic Movement (PDM)-led government avoid default.
“Friendly countries like China, Saudi Arabia, UAE, and Qatar extended all-out support to Pakistan”. He remarked at a ceremony during his day-long visit to Gwadar on Thursday.
The premier stated that friendly countries’ support to help Pakistan get the IMF bailout package was “unconditional” since loans not conditioned.
“China loaned Pakistan $7 billion without conditions. He said, “We must protect those who supported us in difficult times.”
He also said the government must protect investors.
PM Shehbaz said yesterday that China Exim Bank extended its $2.4 billion credit for two years.
Pakistan avoided a sovereign default and secured an IMF deal with the support of friendly nations including China, Saudi Arabia, and the UAE.
On June 30, the IMF board authorised a $3 billion Standby Arrangement for Pakistan. By releasing $1.2 billion initially and the remainder after two reviews.
As of July 14, Pakistan’s central bank’s foreign exchange reserves reached $8.7 billion, the highest level in nine months, mainly to bilateral and multilateral help.
‘Gwadar world-class seaport’
PM Shehbaz pledged to make the Gwadar Sea Port the world’s best during a laptop and cheque distribution ceremony.
The province’s development operation will transform Balochistan’s fate, notably Gwadar’s.
PM Shehbaz lamented that the previous government had abandoned all municipal initiatives when he visited last year.
He said the coalition administration laid the groundwork for progress and prosperity in the country, especially in Balochistan, after 15 difficult months.
He said Balochistan has vast mineral and natural resource reserves that needed to be exploited and shared with the locals.
Locals must have all basic health and education amenities.
He added the Gwadar port had one of the deepest draughts in the world, but the previous government did not enforce continual dredging to prevent silt buildup.
PM said the present government started dredging, which will finished by February 2019.
He stated only 100,000 tonnes of commodities might arrive here from 2017 to 2022, while over 600,000 tonnes landed at the Gwadar Port during the current government’s 15 months.
The prime minister announced a 14% laptop quota for Balochistan, despite its 6% population share.
He ordered the authorities to raise the laptop limit to 18% for the upcoming fiscal year.
