Punjab government and Commonwealth Development Corporation announce to set up investment fund for promotion of foreign investment


LAHORE: Punjab government and Commonwealth Development Corporation have announced to set up an investment fund with the participation of different countries for the promotion of foreign investment in the province.

This was decided in a meeting between Chief Minister Punjab Muhammad Shahbaz Sharif and senior officials of Commonwealth Development Corporation in London, today.

Provincial Ministers Rana Sanaullah Khan, Mujtaba Shuja-ur-Rehman, Assembly Members Shahzadi Umerzadi Tiwana and Faiza Hameed, Member National Assembly Pervaiz Malik and Chairman Planning & Development Javed Aslam were also present on the occasion. The fund would be launched with a huge amount of 85 billion rupees and it would be aimed at promotion of foreign investment in energy, health, education and livestock sectors in Punjab. Commonwealth will provide technical assistance to Pakistan for the fund. Pir Saad Ahsanuddin would represent Punjab in the joint team constituted for the fund. Chairman Punjab Investment Board Rizwanullah Khan gave a detailed briefing on this occasion.

The Chief Minister in his address said that the fund would add a new chapter to foreign investment in Pakistan. He said that economic activities resulting from the establishment of the fund would play an important role in the elimination of poverty, ignorance, unemployment and extremism from the country. Later, addressing a big reception of traders, industrialists, investors and expatriate Pakistanis in London, the Chief Minister said that Peoples Party had put the survival of democracy in Pakistan at stake due to its negative attitude towards the decision of the court. However, he said, every conspiracy would be foiled with the cooperation of the masses.

He said that PPP government was fully aware of the consequences of its misdeeds but it was not concerned about the future of Pakistan or democracy. He said PPP government was interested only in its selfish ends and all its policies revolved around its personal and financial interests. He said that government departments were considered only as a walking stick and senior officers as personal servants but there were strong portents that the current situation would not last long.

Shahbaz Sharif said that those who think that they could evade the court’s decision were living in fool’s paradise as the people of Pakistan, civil society, political parties, media and intellectuals would shatter their dreams. He said that overseas Pakistanis were as much concerned and worried over the malpractices and corruption of PPP government as the people of Pakistan and he would like to assure them that Pakistan Muslim League-N would not disappoint them and would spare no effort for ridding the country of corruption. Earlier, Dr Ashraf Chouhan while addressing the reception said that the hearts of the Pakistanis living in Britain beat with Pakistan Muslim League-N and they considered Muhammad Nawaz Sharif and Muhammad Shahbaz Sharif as their leaders and would make any sacrifice for them.

Meanwhile, Muhammad Shahbaz Sharif met Secretary of State for Department of Fund for International Development (DFID) Sir Andrew Mitchell. The DFID authorities highly appreciated the performance of Punjab government in education sector and observed that Punjab was fast heading towards its targets in education sector in accordance with the roadmap. The Chief Minister said that education was the top priority of the government as terrorism could not be overcome without promotion of education.

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