PM pushes for feasibility studies on Reko Diq-Gwadar railway, Chiniot iron projects
MG News | April 03, 2024 at 11:58 AM GMT+05:00
April 03, 2024 (MLN): Prime Minister Shehbaz Shareef on Tuesday called for feasibility studies to be conducted for railway connectivity from Reko Diq to Gwadar Port and urged initiatives for external investment in projects like Chiniot Iron and Iron Ore plants.
According to the Information Ministry’s latest news update, the Prime Minister stated this while chairing a high-level meeting on foreign investment in Islamabad on the said day.
During the meeting, he assured investors of the provision of every possible facility and emphasized the establishment of special cells at the Federal Ministries for innovation and research related to investment.
Shehbaz Sharif termed the promotion of foreign investment as the top priority of the government in order to turn challenges into opportunities.
The session reviewed agreements and memoranda of understanding with Gulf countries under the Special Investment Facilitation Council.
The Prime Minister's directed the authorities concerned to conduct feasibility studies for projects attracting investors and to seek the services of international experts with renowned expertise in this regard.
He emphasized that no compromise should be made on the standards of projects proposed for investment.
Furthermore, the Prime Minister instructed all ministries to enhance their relations with Gulf countries regarding the progress of respective memoranda of understanding, aiming for further improvement.
He directed that all necessary requirements for investment in projects related to solar energy in Multan, Layyah, and Jhang should be fulfilled.
The meeting was informed that dredging work at Gwadar Port has been completed, enabling large ships to anchor there.
It was also mentioned that substantial investment is expected from Gulf countries, particularly in renewable energy, oil refining, mining, food preservation, banking and financial services, logistics, water supply, and waste management sectors.
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