The Prime Minister of Pakistan, Shehbaz Sharif, has directed that 60% of the public sector imports and exports be shifted to Gwadar Port. This step is a significant move toward enhancing the port’s role in national trade and boosting Pakistan’s maritime sector.
Key Announcement by Prime Minister Shehbaz Sharif
What Did the Prime Minister Say?
During a recent meeting with federal cabinet ministers, Prime Minister Shehbaz Sharif instructed all ministries to transition 60% of public sector trade—imports and exports—to Gwadar Port starting from March 2024. This decision is part of a broader effort to improve Pakistan’s national economy and enhance Gwadar’s strategic role.
| Event | Date | Key Announcement |
|---|---|---|
| Federal Cabinet Meeting | January 2025 | 60% of public sector imports/exports to Gwadar |
| Proposed Shift to Gwadar Port | March 2024 | Significant boost to Gwadar’s trade capacity |
The Role of Gwadar Port
Why Gwadar?
Gwadar Port, located in Balochistan, has been strategically developed with the potential to become a key trade hub. The decision to move a significant portion of public sector imports and exports to Gwadar is expected to reduce congestion at other ports and improve Pakistan’s overall trade efficiency.
Benefits of the Shift:
- Enhanced Economic Activity: A major increase in trade through Gwadar will stimulate the economy.
- Job Creation: More trade leads to more infrastructure and employment opportunities in the region.
- Boost to Regional Cooperation: Gwadar’s growth is vital for improving relations with neighboring countries like China.
| Benefit | Explanation |
|---|---|
| Economic Growth | More trade at Gwadar will boost the economy. |
| Employment Opportunities | Increased trade will lead to more local jobs. |
| Improved Infrastructure | Development of facilities will support trade. |
Collaboration with UAE on Debt Relief
A Key Step in International Relations
Prime Minister Shehbaz Sharif also expressed gratitude for the UAE support in rolling over a $2 billion debt. This debt rollover, secured with the help of President Sheikh Mohamed bin Zayed Al Nahyan, is a significant move to stabilize Pakistan’s financial position.
Impact of the UAE Deal:
- Financial Stability: The debt rollover helps Pakistan manage its financial crisis.
- Strengthened Bilateral Relations: This deal enhances cooperation between Pakistan and the UAE.
| Country | Support Offered | Outcome |
|---|---|---|
| UAE | $2 billion debt rollover | Stabilized Pakistan’s financial situation |
Steps Toward Reducing Electricity Tariffs
What is the ‘Uraan Pakistan’ Program?
The Prime Minister highlighted the ‘Uraan Pakistan’ program, which aims to reduce electricity costs to help boost exports and commerce. A significant part of the plan includes discussions with provincial governments to reduce power tariffs.
Key Points of the Power Reduction Plan:
- Goal: Make electricity more affordable for businesses.
- Economic Impact: By lowering power rates, the cost of doing business will decrease, which should increase exports.
| Program | Objective | Expected Outcome |
|---|---|---|
| Uraan Pakistan | Reduce electricity costs | Boost exports and business growth |
Bilateral Cooperation and Foreign Visits
Upcoming Visit from Indonesian President
Prime Minister Shehbaz Sharif also shared news of an upcoming visit by Indonesian President Prabowo Subianto. The visit, scheduled for later this month, aims to further strengthen trade relations between Pakistan and Indonesia.
Areas of Cooperation:
- Halal Meat and Rice Exports: Focused on improving trade in agriculture.
- Edible Oil Imports: Cooperation in sourcing and importing edible oil.
| Country | Cooperation Focus | Key Sectors |
|---|---|---|
| Indonesia | Halal meat, rice, and edible oil trade | Agriculture and food imports/exports |
Cybersecurity Measures for Sensitive Data
Protecting Data through Cybersecurity
The Prime Minister also announced that the Federal Board of Revenue (FBR) infrastructure would be placed under the Prevention of Electronic Crimes Act (PECA) 2016. This decision aims to protect highly sensitive data from potential cyberattacks and hacking attempts.
Importance of PECA Protection:
- Data Security: Ensures that important financial and governmental data remains secure.
- Legal Framework: PECA provides a strong legal foundation to prevent cybercrimes.
| Action | Purpose | Expected Outcome |
|---|---|---|
| FBR Infrastructure Protection | Under PECA 2016 | Enhanced cybersecurity and data security |
Memorandum of Understanding (MoUs) Approvals
New Agreements with International Partners
The federal cabinet approved two important Memoranda of Understanding (MoUs). One MoU is between the Investment Board and Shandong Ruyi Group of China, aiming to establish textile parks. The other is between Pakistan’s Foreign Service Academy and Serbia’s Diplomatic Academy, focusing on further diplomatic cooperation.
Key Details of MoUs:
- Textile Parks: The partnership with China will help create textile parks, promoting industrial growth.
- Diplomatic Cooperation: The MoU with Serbia focuses on strengthening ties between the two countries.
| MoU Partner | Objective | Expected Outcome |
|---|---|---|
| Shandong Ruyi Group (China) | Establish textile parks | Boost to textile industry and job creation |
| Foreign Service Academy (Pakistan) | Strengthen diplomatic ties | Improved international cooperation |
Summary
Prime Minister Shehbaz Sharif initiatives for Gwadar Port, power tariff reductions, and strengthened international cooperation show his government’s focus on stabilizing Pakistan’s economy. The move to shift 60% of public sector trade to Gwadar is a key development for the country’s maritime and economic future. Furthermore, the focus on cybersecurity, foreign trade relations, and the ‘Uraan Pakistan’ electricity program demonstrate a comprehensive approach to national growth.
