NOWSHERA: Prime Minister Imran Khan said here on Friday increase in exports was imperative for sustainable economic development and bolstering industrialization to generate employment opportunities and attract foreign direct investment (FDI). Addressing the commercial launch of the “Rashakai Special Economic Zone (RSEZ)” project under CPEC, the prime minister said the RSEZ was a landmark project that would help attract foreign direct investment, ensure inclusive economic development in Khyber Pakthunkhwa and also create significant job opportunities for the youth and skilled workforce.
This economic zone for its important location for Afghanistan and the Central Asian States (CARs) would accelerate the pace of economic and industrial development and take the country's exports to new heights and turn the KP province into a hub of trade and investment.
Imran Khan said Pakistan is blessed with all the natural resources and has the potential to achieve new heights of economic progress like China by promoting export-oriented income-generating industries and the Small and Medium Enterprises sectors.
"We can take benefit from China’s expertise, and the RSEZ can provide unique opportunities to our domestic investors to learn from Chinese investors," he remarked.
He said the government would provide all necessary incentives and facilities to the investors, and all the bottlenecks were being removed to attract more investors from across the globe.
When the PTI government took over, he said the country was facing a current account deficit of about 20 billion dollars, and in the last eight-to-ten months the current account was in surplus due to our prudent economic policies.
He said his government had achieved about four-percent economic growth rate this year that had unnerved our political opponents.
The prime minister said the government had come out of the difficult economic situation, and the country’s economy was showing an upward trajectory with increased foreign exchange reserves and record remittances from overseas Pakistanis.
He appreciated the assistance of brotherly countries including China and Saudi Arabia when his government was passing through a difficult economic situation after he took over in 2018.
Imran Khan said a record sale of vehicles and fertilizers was witnessed, and sugar mills were now bound to make quick and full payments to the farmers contrary to the practice during the past governments.
As a result a record production of wheat, maize, sugarcane and rice was achieved this year that brought prosperity to the lives of the farmers.
He urged overseas Pakistanis to send their remittances through banks and invest them in the special economic zones like Rashakai.
The prime minister said his government’s anti-corona policies had been globally lauded, adding on the one hand his government protected the nation from the fatal corona disease and on the other from starvation and hunger through adopting a smart lockdown policy.
He said the rights of the landowners would be protected, and economic zones' lands would be provided on lease.
The Chinese ambassador, Nong Rong, in his address said the RSEZ would help strengthen the economies of both the countries and promote business activities.
The ambassador, while appreciating the economic and investment policies of the Pakistani government, said more Chinese investment would come to Pakistan.
He said confidence of foreign investors was restored due to Pakistan government's investment-friendly policies that would bolster business, industrialization and attract foreign investment.
He said Pakistan and China have time-tested friendly diplomatic relations spread over 70 years which would further grow under the leadership of Prime Minister Imran Khan.
The event was also attended by KP governor Shah Farman, Chief Minister Mehmood Khan, CPEC Authority chairman Lt-Gen (Retd.) Asim Salim Bajwa, provincial ministers, and Chinese and Pakistani investors.