PM Sharif constitutes committee to resolve problems faced by foreign investors

This handout photograph released by the Press Information Department (PID) on April 11, 2022 shows Pakistan's newly elected Prime Minister Shehbaz Sharif (L) addressing the National Assembly in Islamabad. (AFP/FILE)
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Updated 15 August 2022
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PM Sharif constitutes committee to resolve problems faced by foreign investors

  • The prime minister was told foreign companies were interested in investing $10 billion in Pakistan
  • Sharif instructed his administration officials to remove obstacles to international investment immediately

ISLAMABAD: Prime Minister Shehbaz Sharif constituted a committee on Monday to address challenges faced by international firms who want to carry out projects in the country while instructing relevant officials of his administration to remove any obstacles impeding foreign investment.

Pakistan has witnessed tough economic challenges in recent months after its current account deficit ran high and its forex reserves started depleting. The country’s national currency was also rapidly losing its value until recently, though it started recovering some of its losses in the last few weeks.

While the government tried to secure external finances from friendly nations and international lenders, it also looked into the possibility of generating foreign investment to cure its ailing economy.

“The prime minister has established a committee to solve the problems of foreign investment companies, especially those investing in Gwadar Free Zone,” said a statement released by his office after Sharif held a high-level meeting to evaluate the investment situation in the country.

“All obstacles to foreign investment in the country should be removed immediately,” the statement quoted him as saying.

The newly established committee will submit a detailed report and recommendations to the prime minister in 10 days.

Sharif said Pakistan must facilitate the Chinese firms on a priority basis.

The meeting to review the investment situation in the country was also attended by finance minister Miftah Ismail along with the other senior cabinet members.

The prime minister was informed about the companies interested in investing $10 billion in energy and infrastructure development projects.

He was also informed that the investment of one to two billion dollars was expected to flow in immediately during the first phase.

These projects, it was added, would create more than 45,000 employment opportunities in the country.

“The prime minister immediately issued instructions to the Board of Investment, Ministry of Planning and the Ministry of Finance to prepare a comprehensive plan for these projects with mutual cooperation,” the statement informed.


Pakistan’s Punjab deploys satellites, drones, AI to combat smog

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Pakistan’s Punjab deploys satellites, drones, AI to combat smog

  • Senior minister warns industrial masks may become necessary without a change in public attitudes toward pollution
  • Cities in Punjab face worsening smog each winter, driven by crop burning, vehicle emissions and industrial pollution

ISLAMABAD: Punjab Senior Minister Marriyum Aurangzeb on Wednesday said Pakistan’s most populous province deployed satellites, drones and artificial intelligence to tackle smog, warning that industrial masks may become necessary if public attitudes toward air pollution did not change.

Punjab cities face worsening smog each winter, driven by crop burning, vehicle emissions and industrial pollution that threatens public health and daily life. The smog season typically begins in late October, peaks between November and January and can persist through February.

Smog causes symptoms such as sore throats, eye irritation and respiratory illnesses, while prolonged exposure raises the risk of stroke, heart disease and lung cancer. Children are more vulnerable due to higher breathing rates and weaker immune systems.

“We have the AI machine-learning forecasting system in place, surveillance drones and technology cameras,” Aurangzeb said while addressing an event.

“At present, what is considered one of the world’s best environmental protection forces — with training, equipment, technology and digitally integrated data — is operating in Punjab,” she added.

Aurangzeb said surveillance is now being carried out through drones.

“There is monitoring, technology, cameras,” she continued. “Everything is digital.”

The minister maintained the eastern corridor from India was a major source of smoke which becomes active during the winter season.

She said this was the first time a complete testing system was introduced by the Environmental Protection Agency to measure pollution released by vehicles.

She added the government has loaned 5,000 super seeders to farmers, which are agricultural machines that plant crops directly into fields without removing leftover stubble, reducing crop burning, and helping curb winter smog.

Aurangzeb warned the situation could reach a point where people may have to use industrial masks and carry therm around like a “purse or wallet.”

“This will become a mandatory item if we do not change our attitudes and habits toward air quality, climate and conservation.”

Pakistan’s main urban centers routinely rank among the most polluted cities in the world, with vehicular emissions remaining one of the top contributors to air pollution.

The severe air pollution also undermines economic productivity and diminishes the quality of life for millions of residents.