Federal Minister Muhammad Hanif Abbasi has said that Pakistan has come out of the difficult time as the government has employed policies for its economic revival.
\nHe announced that soon, government would announce more business friendly policies to push the investments in the country.
\nThe minister was addressing the business community on Tuesday at the Rawalpindi Chamber of Commerce and Industry (RCCI), and highlighted the significant progress within Pakistan Railways over the past eight months, describing it as a \u201crevolution.\u201d
\nHe underlined major improvements, including the digitalization of 54 railway stations, widespread provision of Wi-Fi for passengers, and enhanced amenities across the network. He highlighted that Rawalpindi Railway Station now boasts a modern 184-camera security system, making it the second most advanced in Pakistan after Islamabad Airport, with \u2018smart & safe\u2019 facilities, also introducing in Karachi and Lahore.
\nThe minister announced the planned restoration of the Islamabad-Tehran-Istanbul (ITI) train service by December 31st, emphasizing strengthened regional connectivity with countries like Iran and Saudi Arabia. He stressed the importance of leveraging these improved links for trade.<\/p>\n
\u201cTo facilitate this, Pakistan Railways aims to provide transport by year-end, urging the business community to capitalize on these new opportunities\u201d, he said.
\nHe also underlined the country\u2019s economic challenges, acknowledging high taxes, interest rates, energy costs and gas prices as barriers to investment and exports. \u201cThe government is committed to resolving these issues to boost the economy, which currently sees USD 32.0 billion in exports, with 18 billion from textiles, despite 150 textile units having closed\u201d, he said.
\nAbbasi advocated for fostering an environment where businesses can enhance, ensuring that increased exports would drive the success of new freight train services.
\nMoreover, the minister underscored the government\u2019s aggressive out-sourcing initiatives for schools, hospitals, and train operations to generate revenue and improve services.
\n\u201c6 of 12 schools have already been outsourced, expected to generate Rs. 2.0 billion annually instead of costing 80 million as debiting cost. Hospitals and numerous train services are next\u201d, he said.
\nThe minister expressed confidence in upgrading the country\u2019s old track infrastructure, some dating back to 1861-1871.
\nHe informed that a USD 2.0 billion loan from the Asian Development Bank has been approved for a 500 km track from Rori to Karachi, with groundbreaking expected by June\/July the next year. Additionally, 884 km of new\/upgraded track from Nokundi to Rori will be funded by a mineral company through bridge financing. He also mentioned a plan for a 2.5-hour train journey between Lahore and Rawalpindi, approved by the Punjab Cabinet and awaiting Federal Government approval, by employing best rail service and tracks.
\nThe minister emphasized that the government is fully aware of economic issues and is working day and night to create a conducive environment for business.
\n\u201cPakistan\u2019s survival hinges on economic turnaround and national unity\u201d, he said.
\nHe assured the traders to take up their issues at the highest government level.
\nAbbasi termed the recent diplomatic, defence uplift and economic confidence as a culmination of the collective resolve and valour shown in May this year by the armed forces and the people of Pakistan.
\nEarlier, President RCCI, Usman Shaukat and Group Leader Sohail Altaf during their speeches appreciated the minister for his supper for the business community and also lauded his restless efforts in railways revival.<\/p>\n","protected":false},"excerpt":{"rendered":"
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