ISLAMABAD: Prime Minister Shehbaz Sharif Friday expressed optimism about an agreement with the International Monetary Fund (IMF) on the 9th review of the Extended Fund Facility this month.
Speaking after inaugurating the Greenline Express Train Service (Margalla-Karachi) at Margalla Railway Station, he said he is fully optimistic that an agreement with the IMF would be reached this month and the country would be out of difficulties. He said that after agreement with the IMF, multilaterals and bilateral would also help Pakistan.
The premier said that this is a difficult time and Pakistan has been suffering due to a natural disaster consequent to carbon emissions even though Pakistan’s contribution was less than one percent. He said that Railways is also facing difficulties like other departments but these difficulties would soon be overcome.
He also thanked China for ML-I and stated that it was the priority of the Chinese government. He deplored that baseless allegations of corruption were levelled against the Chinese companies, which hurt them. The prime minister said that during the last four years, relations with China were harmed.
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The prime minister thanked the Chinese company for providing outclass services in the coaches. He said that the model is to outsource the services. He said that Pakistan is standing on the crossroad where each penny is needed to be saved and in view of foreign exchange reserves, the government has made a priority list of imports.
Finance Minister Ishaq Dar said that he would support the minister for railways’ proposal regarding exemption for import of parts. He also supported ML-1 cost-cutting proposal. He said that there should be accountability of those who have been responsible for the present state of the economy. He said that the country would be steered out of the prevailing quagmire. Dar held the previous government responsible for the current economic situation.
Federal Minister for Railways Khawaja Saad Rafique and the finance minister also addressed the inaugural ceremony. Rafique said that he was thankful to the guests for attending the ceremony. He said that way forward is Railways earning was Rs150 million daily while its expenses are Rs200 million daily and this gap would be bridged by using Railways land for commercial use.
He said that the Railway would be in need of the prime minister’s help. Other measures are branding of railways and optic fibre which would also increase the revenue of the railways. He said that KP and Balochistan have handed over the title of Railways land to the Railways but Punjab and Sindh have not complied with the apex court’s decision with regard to the transfer of the title of Railways land to the Pakistan Railways and sought the prime minister’s help in this regard. Ahsan Iqbal also spoke on this occasion.
Copyright Business Recorder, 2023
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