LAHORE: Federal Minister for Petroleum Musadik Masood Malik said on Saturday Prime Minister Shehbaz Sharif had prepared a plan under which youngsters would get jobs after completing their degrees and they would be able to create employment opportunities for others as well.
Addressing a press conference here, he said: “To implement this plan, we need some changes in the system and support from other countries in the form of investment.” Imbalance in the country’s exports and imports was also creating challenges, he said and stressed the need for paying special attention to boosting exports of the country.
He said that the federal government wanted to increase GDP [gross domestic product] and to boost productivity.
Musadik Malik said the government was bringing economic changes in the country and approaching other countries to ensure sustainable development. He said that there was a need to end an atmosphere of polarization in society and sense of respect and morality should be promoted.
The minister said that the government wanted to promote such a society in which Islamic and family values should be of prime importance, besides overcoming the problem of discrimination. “Pakistan has deep brotherly relations with Saudi Arabia,” he said and added that Pakistan wanted its development. He said the recent talks with Saudi Arabia were aimed at progress and development of Pakistan and arrival of their delegations was part of such efforts.
Musadik said that during the first visit of the Saudi Arabia high powered delegation to Pakistan, Prime Minister Shehbaz Sharif briefed them that in which direction Pakistan wanted to work with Saudi Arabia. He said that Pakistan shared proposals with the Saudi Arabia through which they could make investment and share profits.
He said that meetings were held with Saudi Arabia’s Minister of Energy, Minister of Industry, Minister of Commerce, Minister of Agriculture, Water and Food Security. He said that a meeting with the chief executive officers (CEOs) of big Saudi companies was also held. The CEO of ARAMCO and CEO of SALIC were part of the meeting, he added.
Musadik Malik said that during these meetings, two types of investment opportunities were highlighted. One investment opportunity was between government to government (G2G) and the other in which private sector could play more significant role and PM Shehbaz Sharif wanted the private sector to play crucial role in development journey of the country.
He further said that talks were held on new refinery with the help of which Pakistan would be able to earn dollars by investing in the sector. Solar, transmission lines, food security, and many other things came under discussion during various meetings, he added. He said that Saudi companies and investors were coming to Pakistan and they would sit with Pakistani companies and devise a strategy as to how Pakistani talent could be connected with the investment needed at international level for IT revolution. He said that certain matters like existing refinery would be decided between the two governments.
Musadik Malik said there had been an electric revolution in the world. “For electric revolution, copper plays significant role,” he said and added that Pakistan had good cooper reserves. He said, “We are talking with Saudi Arabia to cooperate with Pakistan on mining side as well.” Musadik said that water and power generation was also being discussed so that country’s progress journey could not stop.
He said that funds were being sought so that small businesses in the country could be made big ones. Musadik Malik said that Saudi Arabia deputy minister of investment was coming to Pakistan besides bringing 30 to 35 companies along with their CEOs. He said, “We want that Pakistan companies meet these Saudi Arabian companies to achieve desirable results.”
He said Pakistan and Saudi Arabia both wanted to promote religious tourism. He said that interaction between governments and private sectors of both sides would help increase country’s jobs and exports opportunities.