Pakistan seeks investment, not loans

ISLAMABAD: Prime Minister Shehbaz Sharif has asked friendly countries that Pakistan needs the injection of critical investment in different projects, instead of loans that add to its debt burden, to rejuvenate the faltering economy. Addressing members of the cabinet at a meeting last week, the premier appreciated the Special Investment Facilitation Council (SIFC), observing that the forum was playing an effective role in enabling Pakistan to realise its growth potential, especially by facilitating foreign investment into the country. He shared with the cabinet that he had told friendly countries that Pakistan required investment this time around, but not loans. The PM emphasised that youth potential needed to be optimally harnessed through providing world-class training in income-generating skills. He also called for promoting small and medium-sized enterprises (SMEs) by inculcating a culture of entrepreneurship, incentivising self-employment and supporting start-ups.