Govt to Make Use of Dead Assets of Loss-Making Institutions – Research Snipers

Govt to Make Use of Dead Assets of Loss-Making Institutions

Sarmaya Pakistan Company

Fawad Chaudhry—the Information Minister has informed that the government would be making use of the dead assets of loss-making institutions. He said that the government has taken this decision. The institutions considered for the purpose includes the Pakistan Steel Mills (PSM) and the Pakistan International Airlines (PIA).

While speaking at a ceremony on Sunday at a local hotel, Fawad Chaudhry informed that the country’s debts had reached to rupees twenty-eight trillion owing to the weak economic policies of the earlier governments.

He affirmed that Pakistan Tehreek-e-Insaf (PTI) government is focused on the implementation of an inclusive reforms agenda to direct the nation out of economic and administrative difficulties.

The information minister said that if the government of PTI opts for the foreign loans, the nation’s foreign debts would rise to rupees forty trillion. He added that the government has given an invitation to Saudi Arabia and other nations to come and invest in Pakistan.

Also Read: Indonesia Interested to Import 1 million tons of Rice from Pakistan

He also said that Pakistan wanted Saudi Arabia to take advantage of the infrastructural projects of the China-Pakistan Economic Corridor (CPEC). Fawad Chaudhry said that the government welcomes the international investments, as money influx is the most crucial need at the moment for Pakistan.

He informed that the government has deployed best economic and technocrats at the work of restoring the nation’s economy and putting the issues correct in the administrative affairs.

It is important to mention that Pakistan and the Kingdom of Saudi Arabia have signed three grant agreements recently. Under these agreements, Riyadh would be making an investment in CPEC as well as in the information and development of Pakistan’s basic infrastructure.

He also informed about an operation that the government would be launching against the hundred big defaulters for correcting the system.

He mentioned that it is the duty of the government to make employment opportunities and to bring transparency in every field of life.

More Read: Accessible ATMs for Visually Impaired—Govt Instructs