PTBP Web Desk
Prime Minister Shehbaz Sharif on Tuesday hailed the World Bank’s commitment to providing a $20 billion loan over the next decade under the Country Partnership Framework. This financial support is aimed at fostering inclusive and sustainable development across various social sectors in Pakistan, reinforcing the nation’s path towards economic stability.
During a federal cabinet meeting, Prime Minister Sharif highlighted the importance of this loan, emphasizing that the investments would touch upon critical areas like education, health, and infrastructure. This move by the World Bank is seen as a vote of confidence in Pakistan’s economic policies, which according to Sharif, are showing positive results with all economic indicators on an upward trajectory.
Parallel to the financial announcement, the newly inaugurated Gwadar International Airport was another focal point of the cabinet meeting. A pivotal project under the China-Pakistan Economic Corridor (CPEC), this airport not only promises to revitalize the local economy of Balochistan but also aims to contribute to the national economic fabric.
The airport, sprawling over 4,300 acres, is Pakistan’s largest by area and was constructed with a $230 million grant from China. It features a runway capable of handling large aircraft like the Airbus A380 and Boeing 747, located strategically 26 kilometers from Gwadar city. Prime Minister Sharif underscored the commercial potential of the airport, suggesting that if operated efficiently, it could significantly benefit both Balochistan and Pakistan at large.
The development of Gwadar has not been without challenges. Sharif condemned those involved in violent acts in Balochistan as enemies of the nation, particularly those obstructing the port’s full operational capacity. The Prime Minister made it clear that anyone involved in killing innocent people or sabotaging national projects would face severe repercussions.
The cabinet meeting also touched on various economic initiatives, including the promotion of electric vehicles and the impressive growth in IT exports, which reached $346 million in December of the previous year. These discussions reflect a broader governmental strategy to diversify and strengthen the economic base through technology and innovation.
Moreover, preparations for the upcoming Hajj were discussed, with the government promising enhanced facilities for pilgrims. The meeting also paid homage to the sacrifices of Pakistan’s armed forces in combating terrorism, particularly against the Tehreek-e-Taliban Pakistan (TTP).
Administratively, the cabinet approved several changes, including the transfer of responsibilities related to the Prevention of Electronic Crimes Act (PECA) 2016 from the Ministry of IT to the Interior Ministry. Additionally, extensions for foreign pilots’ licenses were approved, acknowledging the role of international pilots during the Covid-19 restrictions.
A committee under Defence Minister Khawaja Asif was established to review the Toshakhana Act, aiming to enhance transparency in managing state gifts, ensuring public trust and accountability in governance.
