ISLAMABAD: Prime Minister Shehbaz Sharif on Monday said that public funds must be allocated to development schemes that deliver “tangible and measurable results,” as he reviewed ongoing development spending and preparations for the next Public Sector Development Programme (PSDP).
Chairing a high-level meeting on development budget allocations, the prime minister stressed that ministries showing better performance would be given priority in the release of funds for future projects.
He said that water storage and hydropower projects remain among the government’s top development priorities, directing that schemes related to reservoirs and water infrastructure be fast-tracked and given enhanced focus in the upcoming fiscal plan.
The meeting, attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers and senior officials, was briefed on the progress of ongoing PSDP projects and proposed development initiatives for the next fiscal year.
Officials presented updates on major water and hydropower projects, including Dasu Dam, Diamer-Bhasha Dam and Mohmand Dam.
The prime minister also appreciated Finance Minister Muhammad Aurangzeb for the successful launch of the Panda Bond, noting its positive response in international markets. He praised the performance of ministries of railways, information technology and power, and directed authorities to further promote public-private partnerships in development projects to improve efficiency and investment inflows.
Separately, PM Shehbaz reaffirmed the government’s commitment to economic reforms and investor-friendly policies during a meeting with Timur Turlov, Founder and CEO of Freedom Holding Corp., who expressed interest in expanding operations in Pakistan, including in digital financial services, brokerage, fintech, Islamic banking and capital market development.
The prime minister welcomed the investment interest and highlighted Pakistan’s young population and growing digital infrastructure as key opportunities for financial sector growth.
In another engagement, the prime minister chaired a meeting with Pakistan’s ambassadors to Iran and Gulf Cooperation Council (GCC) countries, directing them to strengthen economic diplomacy, enhance trade, investment, remittances and engagement with the Pakistani diaspora.
He emphasized the strategic importance of GCC countries and Iran in Pakistan’s foreign policy and called for proactive efforts to expand bilateral cooperation in multiple sectors, including energy and trade.
PM Shehbaz also held a telephone conversation with Qatar’s Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, discussing regional developments and ongoing peace efforts. Both leaders agreed on the importance of continued diplomatic engagement to maintain ceasefires, prevent escalation and promote regional stability.
The prime minister expressed gratitude for Qatar’s support to Pakistan’s peace initiatives and conveyed warm regards for the Qatari leadership.
Separately, Chinese Ambassador to Pakistan Jiang Zaidong met the prime minister to discuss bilateral relations and explore ways to further deepen cooperation across key sectors under the long-standing Pakistan-China partnership.
Additionally, Defence Production Minister Muhammad Raza Hayat Harraj and Chief of Naval Staff Admiral Naveed Ashraf also called on the prime minister. Meetings covered matters related to their respective domains as well as the overall security and political situation in the country.
