Foreign exchange reserves soared by another $600 million, says Shehbaz

Prime Minister Shehbaz Sharif has revealed that Pakistan's foreign exchange reserves have further increased by 600 million dollars as the Exim Bank of China has provided a loan rollover to the country, reported 24NewsHD TV channel.

Asserting that more facilities should be provided to the country’s youth, Prime Minister Shehbaz Sharif said that despite limited resources, the youth performed exceptionally well in sports.

Launching the Prime Minister's Youth Sports Initiative in Islamabad on Tuesday, the prime minister said he saluted those who won laurels for the country. He informed that Rs5 billion had been earmarked for sports in the budget. “These are the youth who will make Pakistan a developed country,” he said, adding, “I will provide more facilities for the youth if I become the prime minister again.”

PM Shehbaz told the gathering that Sports Endowment Fund would also be set up for the promotion of different games in the country and to further polish the skills of sportsmen.

Shehbaz Sharif said country's foreign exchange reserves are increasing but we want to do it not through loans but generating our income. He said it is possible as our youth has the potential to excel and take the country forward in the fields of sports, Information Technology, industries and the agriculture.

Paying glowing tributes to the athletes for earning fame for Pakistan through their outstanding performances, the Prime Minister said five billion rupees have been allocated in the budget to meet the necessary expenditures in connection with promotion of sports.

The Prime Minister said if provided with the opportunity after the elections, they would provide more resources for education, skills development and promotion of sports.

The Prime Minister's Youth Sports Initiative encompasses establishment of Sports Endowment Fund, the country's first sports University in Islamabad, Elite Sportsperson Development Program and measures for promotion of traditional as well as e-sports.

In his remarks on the occasion, Minister for Interprovincial Coordination Ehsan-ur-Rehman Mazari said a number of initiatives have been taken over the last fifteen months to further strengthen sports infrastructure in the country. He said a sports policy has also been prepared to promote various sports. He said structural reforms have also been introduced in the departments concerned in order to enable our youth better compete at the international events.

Special Assistant on Youth Affairs Shaza Fatima Khawaja recalled that Prime Minister Shehbaz Sharif revived the departmental sports after assuming the power to nourish capacity and capabilities of athletes. 

She said the sports elements have also been included in the Prime Minister Youth Program under which talent hunt programs for hockey, football and volleyball have been conducted across the country. She was confident that the talent would further earn fame for Pakistan at the international level.

She said the Sports Endowment Fund will provide financial assistance to our legends as well as emerging players and the elite pool. She said out of the five billion rupees allocated for sports, one billion rupees will be spent for the establishment of the sports university. She said this university will prepare sports managers and other technical staff.