Pakistan will never forget timely economic support by China: Senate Committee chief

Quetta: Chairman of the Senate’s Standing Committee on Petroleum and Resources Mohammad Abdul Qadir has said that Pakistan will never forget the timely economic support by Iron Brother China.

In a statement, Senator Mohammad Abdul Qadir also appreciated Saudi Arabia and the United Arab Emirates who along with China stood with Pakistan amid economic crisis.

China, Qadir mentioned, rolled over its existing loan of US $ 2 billion, while the UAE promised to pay a debt of $ 3 billion to Pakistan. Apart from rolling over the loan, China has also provided additional financial support to Pakistan in the recent months.

He suggested that Pakistan would have to evolve a national policy to meet its energy needs. “The economic stability would be possible only if the government and the entire nation showed collective responsibility, with adopting the saving culture,” he noted.

Senator Qadir stressed that Pakistan should learn lessons from the successful economies of the world and devise long-term economic policies. Pakistan could achieve the goal of economic and social stability only by following the policies of self-reliance, he underlined.

He underscored that with the improvement in the law and order situation, foreigners would not have any fear to invest in Pakistan. “The country’s economic indicators would start giving positive signals next year,” he remarked.

Qadir hoped that the International Monetary Fund (IMF) will now grant its loan tranche as Pakistan had fulfilled all its strict conditions.