Army vows all-out support to govt for economic stability

• ‘Economic Revival Plan’ unveiled to deal with economic challenges.
• Economy being steered towards growth with “bold decisions”: PM.
• Establishment of SIFC aims to act as one window for investors.

ISLAMABAD: Chief of Army Staff (COAS) General Asim Munir has assured the Pakistan Army’s all-out support to complement the government’s efforts to deal with the economic challenges facing the country.

The army chief made these remarks during a high-level meeting chaired by Prime Minister Shehbaz Sharif in Islamabad on Tuesday.

The huddle unveiled an elaborated ‘Economic Revival Plan’ in the wake of economic hardships being confronted by the country, an official statement issued by the PM Office said.

The COAS, while speaking on the occasion, assured the army’s all-out support to complement the government’s efforts for Economic Revival Plan, considered fundamental to the socio-economic prosperity of Pakistanis and reclaiming the country’s rightful stature among the comity of nations, the communique quoted the army chief as saying.

PM Shehbaz recalled that his government inherited an economy which was on the brink of collapse. With bold and difficult decisions, it is now being steered towards growth and development, he said.

“There are, however, massive challenges ahead. Export-oriented FDIs hold the key to economic revival. The government has, therefore decided to adopt a holistic/whole-of-government approach which fosters partnerships within the federal and provincial governments for effective implementation and execution,” the premier was quoted as saying in the meeting.

The investors would be given primacy and fast-track approvals, through a well-coordinated approach, he added.

The premier also observed that the expected investments would create jobs and livelihoods for the youth and women. "The focus should be on empowering young and females to realise their full potential."

He added: “Let us resolve to work together, leave no stone unturned and be single-minded in our focus and direction.”

We can transform the destiny of Pakistan and its people. It would, however, not happen without hard work and staying the course on the path of progress and development, he added.

“Pakistan and Pakistanis deserve nothing less from those who have been bestowed the responsibility to administer the country by Almighty Allah and the people of Pakistan,” PM Shehbaz said.

The plan envisages capitalising Pakistan’s untapped potential in key sectors of defence production, agricultural/livestock, minerals/mining, IT and energy, through indigenous development as well as investments from friendly countries.

To fast-track the development of projects, the establishment of Special Investment Facilitation Council (SIFC) has been undertaken to act as a ‘Single Window’ interface for the potential investors as well as to adopt a unified approach, according to the official statement.

The setup will shorten hitherto for cumbersome and lengthy business processes through a cooperative and collaborative ‘whole of the government approach’ with the representation of all stakeholders.

It is aimed at creating horizontal-vertical synergy between federation and provinces; facilitating timely decision-making; avoiding duplication of effort; and ensuring swift project implementation.

The high-ranking participation from federal and provincial governments clearly manifests the national resolve to turn around the economy despite all odds.