PM: Seeking foreign loans not solution to economic challenges

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Says tapping friendly nations for more loans ‘embarrassed’ him; Let’s move to transform Pakistan into Quaid’s vision

Prime Minister Shehbaz Sharif Saturday spoke about feeling embarrassed while seeking funds and loans from friendly countries during his recent visits across various nations since the flooding in the summer.

The prime minister, addressing the passing out ceremony of probationary officers of the Pakistan Administrative Service in Lahore, shared his regret stating that asking for foreign loans was not the right solution to deal with the country’s economic challenges, as the money sought in loans would have to be returned.

Censuring Pakistan Tehreek-e-Insaf, the premier said time was previously wasted following incitement to chaos and protests. PM Shehbaz added that sustainable development goals could be achieved and foreign loans avoided had their “bus moved at a faster pace” and on the right track.

Elaborating on his viewpoint on the economic challenges faced by the country, he regretted that during the past 75 years, different governments could not address the economic issues. “We have an atomic power in one hand and the begging bowl in the other one,” he added.

The prime minister maintained that during his recent visit to the United Arab Emirates, President Sheikh Mohammed bin Zayed had very graciously and affectionately announced to grant of a further $1 billion loan to Pakistan. Shehbaz also lauded Saudi Arabia for its financial support.

Moving on, the prime minister urged the civil servants to serve the country and nation with their utmost capacities and expressed the hope that they were capable of steering the country out of the current challenges.

He reminded them that after assuming their basic responsibilities in practical life, they would be confronted with issues like unemployment, poverty, disease, lack of education, and delayed response to public problems.

Appreciating the civil bureaucracy, the prime minister said that he personally knew a number of good officers who had strived to serve the country by shedding their sweat and blood.

In a veiled reference to the previous government, the prime minister said baseless allegations were levelled against certain officers which caused embarrassment for their families.

He said due to such a situation, the civil bureaucrats, thought twice before taking any step in the performance of their duties which was a real stumbling block.

The prime minister stressed that it should be a collective agenda of them all and the political hierarchy to provide an enabling environment for the civil bureaucracy to serve the masses with dedication. If an amicable environment was provided to the civil servants, they could excel to their full potential, he added.