Prices raised due to PTI govt’s agreement with IMF, says PM Shehbaz Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday promised the nation that his government would release “details soon” regarding the previous PTI regime’s deal with the International Monetary Fund (IMF).

His message on Twitter comes a day after the government raised the fuel prices massively, with petrol reaching Rs233.89. “Acutely aware of the impact that a fuel price hike causes. Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed. Will take the nation into confidence on the specifics of the IMF-PTI deal soon,” wrote the prime minister.

“We will get out of these economic difficulties, InshaAllah,” he added. PM Shehbaz followed by criticising the past government’s handling of negotiations with the global lender, saying: “I wonder whether those who struck the worst-ever deal with IMF and took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing?”

“Details soon,” he reiterated. The prime minister, meanwhile, said that China and Pakistan are good friends and partners and the China-Pakistan Economic Corridor (CPEC) is a manifestation of mutual benefit and win-win cooperation between the two countries. During his first such interview with Chinese media since he took office as the prime minister, Shehbaz Sharif said that CPEC was a manifestation of mutual benefit and win-win cooperation between Pakistan and China, CGTN reported on Thursday.

He said the Pakistan government attaches great importance to the project and hopes to benefit further the people of the two countries and the region. The project is also facing some problems, Pakistan is willing to use the “Pakistan Speed” to eliminate bottlenecks and strengthen cooperation.

The prime minister said the CPEC meets the pressing requirements of Pakistan and has brought benefits to the Pakistani people. Next year marks the 10th anniversary of the Belt and Road Initiative and the 10th year of the construction of the CPEC. Shehbaz Sharif said it’s time to move the CPEC into the next phase.

Separately, chairing a meeting to review progress on the ongoing road projects of the National Highway Authority, Shehbaz Sharif directed the authorities concerned to launch the construction work on the Sukkur-Hyderabad Motorway at the earliest.

The prime minister also instructed to initiate construction of Thakot-Raikot section of Karakoram Highway, Babusar Tunnel and Khuzdar-Kuchlak Road. Calling for ensuring transparency in the process of awarding the contract, he also formed a nine-member committee to improve the procurement process.

The committee would comprise federal communications minister, managing director of Public Procurement Regulatory Authority and chairman Pakistan Engineering Council.

The prime minister viewed that the country could no longer afford delays in the development projects as during the last four years, criminal negligence was shown to development. He also instructed to seek the support from Pakistan’s embassies for verification of international companies, as it was the responsibility of all relevant institutions to save time and money of the country.

The participants were told that M-6 Sukkur-Hyderabad Motorway was an important component of Karachi-Peshawar Motorway but it was delayed due to slow pace of work during the previous government. Featuring 15 interchanges, the 306-kilometer-long motorway would pass through six districts. Besides reducing the distance and travel time and fuel consumption, the project would also ease the transportation of export goods from across Pakistan to Karachi ports.

The work on project would start within six months which would take two-and-half years to complete, the prime minister was told. Regarding the 250-kilomtere Thakot-Raikot section of Karakoram Highway, he was told that the project’s feasibility study would be completed within seven months. Once complete, it would ease the flow trade traffic between Pakistan and China besides providing an alternate route during the construction of Dasu and Diamer Bhasha dams.

The meeting was told that besides the Babusar Tunnel, a 66-kilometer road and rehabilitation of the existing road would be carried out. Snow galleries would also be constructed on the said road to ensure smooth traffic flow during the snow season.

Highlighting its vitality for promotion of tourism in the Northern Areas, the prime minister instructed the execution of project as per international standards. The meeting was attended by federal ministers Ahsan Iqbal and Maulana Asad Mahmood, Adviser to PM Ahad Cheema, chairman of National Highway Authority and relevant senior officers.

Talking to Adviser on Political Affairs Engineer Amir Muqam, who called on him here, the prime minister said social development, and the people’s welfare and betterment were among the government’s priorities.

Engineer Amir Muqam appreciated the federal government for the provision of cheaper wheat to Khyber Pakhtunkhwa as well as measures being taken for development projects in the province. Chief of the Naval Staff Admiral Muhammad Amjad Khan Niazi also called on Prime Minister Shehbaz Sharif. During the meeting, they discussed the matters pertaining to professional affairs regarding the Pakistan Navy.