Prime Minister Muhammad Shehbaz Sharif, Monday, emphasized that public money should be invested in such development projects which ensured tangible results.
The prime minister 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 the 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 prime minister also appreciated Finance Minister Muhammad Aurangzeb for the successful launch of Panda Bonds and their positive reception in the market.
During the briefing, the prime minister praised the performance of the ministries of railways, information technology and power.
He also directed authorities to encourage public-private partnerships in the development projects.
PM highlights govt’s priorities in meeting with AIIB president
Prime Minister Muhammad Shehbaz Sharif received Ms. Zou Jiyai, President of the Asian Infrastructure Investment Bank (AIIB), accompanied by a high-level delegation, at the Prime Minister’s House today.
Welcoming the incumbent AIIB President on her first visit to Pakistan as part of her consultation tour since assuming office, the Prime Minister underscored that, as one of the founding members of AIIB, Pakistan deeply valued its partnership with the Bank. He appreciated AIIB’s continued support for Pakistan’s socio-economic development agenda.
The Prime Minister highlighted the Government’s priorities for sustainable and inclusive economic growth. He identified key areas for future collaboration with AIIB, including railways, agriculture and agro-based industry, regional connectivity, renewable and indigenous energy resources, as well as youth participation in IT and Artificial Intelligence.
The Prime Minister underscored ongoing policy reforms aimed at economic stability and long-term development, as well as the steps being taken to foster an investment-friendly environment. He noted that partnerships with leading multilateral financial institutions such as AIIB were vital for achieving these objectives. The Prime Minister expressed hope that the visit of the high-level delegation would further strengthen Pakistan’s relations with AIIB.
The President of AIIB thanked the Government and people of Pakistan for the warm hospitality extended to her and the delegation. She recalled Pakistan’s valuable role during the establishment of the Bank and appreciated the support and contributions made by Pakistan’s leadership, including the then Finance Minister and Prime Minister of Pakistan, during the formative phase of the institution.
She also praised the leadership of Prime Minister Shehbaz Sharif and acknowledged his strong commitment to the progress and prosperity of Pakistan. Stressing the importance of further strengthening bilateral cooperation, she expressed the Bank’s keen interest in supporting Pakistan in strategic sectors in a programmatic way.