Shehbaz Sharif says Pakistan to strengthen investment ties with Gulf States, Iran Orders result-oriented use of public funds in development projects Reaffirms commitment to long-term partnership with AIIB.
ISLAMABAD - Prime Minister Shehbaz Sharif held a telephonic conversation with Prime Minister and Foreign Minister of Qatar, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani on Monday
During the conversation, the two leaders exchanged views on bilateral cooperation and evolving situation in the Middle East, with a particular focus on ongoing peace efforts led by Pakistan.
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Expressing deep appreciation for Qatar’s support to Pakistan’s peace initiative, the prime minister reaffirmed Pakistan’s strong commitment to a peaceful resolution of the conflict through dialogue and diplomacy. Both leaders underscored the importance of sustained international efforts to preserve the ceasefire, prevent further escalation, and restore stability across the region. The prime minister also conveyed his warm regards to the Amir of Qatar, Sheikh Tamim bin Hamad Al Thani.
PM Shehbaz Sharif also emphasised historic, economic, and strategic importance of the Gulf Cooperation Council (GCC) countries and Iran in Pakistan’s foreign policy.
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He expressed these views while chairing a meeting with Pakistan’s Ambassadors to Iran and GCC countries in Islamabad. The Prime Minister directed the ambassadors to work proactively towards enhancing bilateral cooperation in trade, investment, energy, and people-to-people contacts. During the meeting, the ambassadors briefed the Prime Minister on the current state of bilateral relations, emerging opportunities, and challenges in their respective countries.
Issues related to strengthening economic diplomacy, enhancing trade and investment ties, remittances, and the Pakistani diaspora were also discussed.
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The meeting also included discussions on the regional and international situation, with particular focus on promoting peace, stability, and economic cooperation in the broader region.
PM Shehbaz Sharif on Monday emphasised that public money should be invested in such development projects which ensured tangible results.
The prime minister chaired a meeting to review the ongoing year’s development budget and proposed projects under the upcoming Public Sector Development Programme (PSDP) for the next fiscal year, PM Office Media Wing said in a press release.
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During the meeting, the prime minister said that ministries demonstrating better performance would be given priority in the allocation of funds for development projects.
He said that water reservoirs and hydropower projects were among the government’s top priorities in the development spending and stressed that water reservoirs enhancement projects would be accorded high priority.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, along with federal ministers Ahsan Iqbal, Ahad Khan Cheema, Muhammad Aurangzeb, Rana Tanveer Hussain, Shaza Fatima Khawaja, Hanif Abbasi, Sardar Awais Leghari, Mian Mohammad Moeen Watto, Abdul Aleem Khan, Dr Khalid Maqbool Siddiqui, Minister of State Bilal Azhar Kayani, Special Assistant Haroon Akhtar Khan, and other senior officials.
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The prime minister also appreciated Finance Minister Muhammad Aurangzeb for the successful launch of Panda Bonds and their positive reception in the market.
During the briefing, the prime minister praised the performance of the ministries of railways, information technology and power.
He also directed authorities to encourage public-private partnerships in the development projects.
The meeting was informed about the progress made on the current PSDP and was briefed on proposed development schemes and required funding for the next fiscal year.
The relevant officials also presented updates on major national water storage and hydropower projects, including Dasu Dam, Diamer-Bhasha Dam and Mohmand Dam.
Also, Prime Minister Muhammad Shehbaz Sharif has reaffirmed Pakistan’s commitment to fostering a long-term partnership with the Asian Infrastructure Investment Bank (AIIB).
He expressed these views while talking to President of AIIB, Zou Jiayi, who called on him in Islamabad today along with her delegation.
Welcoming the incumbent AIIB President on her first visit to Pakistan, the Prime Minister said that Pakistan deeply values its partnership with the Bank as one of its founding members. He also appreciated AIIB’s continued support for Pakistan’s socio-economic development agenda.
The Prime Minister highlighted the government’s priorities for sustainable and inclusive economic growth. He identified key areas for future collaboration with AIIB, including railways, agriculture and agro-based industry, regional connectivity, renewable and indigenous energy resources, as well as youth participation in IT and artificial intelligence.
Shehbaz Sharif also underscored ongoing policy reforms aimed at economic stability and long-term development, and the steps being taken to foster an investment-friendly environment.
He said that partnerships with leading multilateral financial institutions such as AIIB are vital for achieving these objectives.
In her remarks, the President of AIIB said the Bank is keen to deepen collaboration with Pakistan in various sectors.
She also praised the leadership of Prime Minister Shehbaz Sharif and acknowledged his strong commitment to the progress and prosperity of Pakistan.
Both sides also reaffirmed their commitment to further expanding cooperation and working closely to promote sustainable development, regional integration, and economic growth.