Pakistan making significant progress on economic front, foreign policy: Info minister Tarar

Federal Minister for Information, Broadcasting, National Heritage and Culture, Attaullah Tarar, has said on Sunday that Pakistan has made significant progress this year in both foreign policy and economic sectors by adopting an open approach towards trade and investment, reported 24NewsHD TV channel.

Briefing foreign media correspondents about the Shanghai Cooperation Organization (SCO) summit scheduled for October 15, Tarar emphasized that Pakistan is emerging on the international stage and the world is beginning to recognize its true potential. He highlighted the recent successful visit of Malaysian Prime Minister Anwar Ibrahim to Pakistan, during which key discussions on bilateral relations, investment, and cooperation took place.

During this visit, the Malaysian PM announced an increase in imports from Pakistan, including rice and Halal meat. Tarar remarked, “Exports of rice, Halal meat, and other commodities to Malaysia will further strengthen the relationship between our two countries.”

Additionally, Tarar noted a high-level delegation from Saudi Arabia, led by the Saudi Minister of Investment, recently visited Pakistan and signed several memoranda of understanding (MoUs) valued at $2.2 billion to enhance bilateral cooperation. He mentioned that Saudi Crown Prince Mohammed bin Salman has shown interest in increasing trade with Pakistan. Regarding the economy, Tarar reported that inflation has decreased to 6.9% from over 32% last year, and all economic indicators are showing positive trends. The trade deficit continues to shrink, while exports have increased by 14%. He expressed gratitude to overseas Pakistanis for contributing to record foreign remittances of $8.8 billion in the first quarter of the current fiscal year.

He highlighted the success of Prime Minister Shehbaz Sharif’s visit to Tajikistan and reaffirmed Pakistan’s commitment to a liberal trade and investment policy. Tarar anticipated that the upcoming visit of the Chinese Prime Minister to Pakistan would be a game changer for the China-Pakistan Economic Corridor (CPEC), further enhancing cooperation across various sectors. He reported positive progress in the second phase of CPEC.

The minister expressed confidence that the SCO summit would serve as a pivotal moment for Pakistan, enhancing its positive image on the global stage. He noted that Islamabad, one of the world’s most beautiful cities, has been beautifully adorned in preparation for the summit. Tarar voiced hope that the summit would foster cooperation on anti-terrorism, climate change, trade promotion, and address shared challenges among member states. He added that the event would also provide Pakistan with a platform to showcase its tourism potential and promote its rich culture and heritage.