“We don’t have money to buy oil and gas,” says PM Shahbaz
While addressing a day-long pre budget session in Islamabad Prime Minister Shahbaz Sharif said that Pakistan does not have money to buy oil and gas due to the rising economic crisis in the country.
Addressing a pre-budget business conference in Islamabad, the Prime Minister said that the previous government had angered friendly countries and investors, trying to mend ties with Turkey and China, adding that Pakistan was not moving forward due to wrong decisions.
PM Shahbaz Sharif said that economic stability could not be achieved without political stability. The Charter of Economy is an important need of the hour.
The Prime Minister further said that despite being rich in valuable resources, it could not be utilized for the country. If we can become a nuclear power then why can’t we become an agricultural and industrial power? The agricultural sector can change the destiny of the country. Therefore, rural areas have to be developed.
He said that by banning unnecessary imports, we have saved Rs2.5 billion annually. Non-development expenditure has to be reduced. The Ministry of IT has set a target of $15 billion for exports in two years.
Premier added that Pakistan was importing $4.5 billion worth of palm oil and all development projects in Gwadar were stalled.
Shahbaz Sharif further said that we need to focus on special industrial zones, increase exports while setting targets, build projects of national interest under public-private partnership, we need to focus on acquiring renewable energy.
