PM Kakar affirms military not overstepping being involved in economic activities
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Caretaker Prime Minister Anwaar-ul-Haq Kakar emphasized that Pakistan's military is not "exceeding its boundaries in any way," firmly rejecting the idea that his government is under any form of control.
"The military is providing us with all the requested support," the caretaker PM asserted. "Their involvement is not even remotely excessive. I do not perceive any situation where my government is being dictated to."
He further stated, "Yes, we are collaborating in several areas, including security and certain economic initiatives. This collaboration is based on mutual willingness."
These comments were made by the caretaker PM during discussions with foreign media representatives in Islamabad. Kakar clarified that the current administration, which assumed power after the dissolution of the National Assembly by Shehbaz Sharif last month, is focused on facilitating the electoral process. "We are not here to overhaul the government. Our role is strictly within the confines of the constitutional mandate. For example, we have a budget approved by the parliament, and we do not have the authority to modify it."
"However," he added, "within the budget allocations, we are making efforts to prioritize and reorganize within fiscal and monetary policy."
He emphasized that Pakistan's economic recovery hinges on the Special Investment Facilitation Council (SIFC) initiative. "We aim to provide a foundation for any future government that may take over in a few months."
"Simultaneously, significant structural reforms are essential to address economic challenges, including reforms in land revenue and the power sector," he noted. "We are laying the groundwork for mid-level reforms, which future governments will be responsible for implementing."
Regarding privatization, Kakar revealed that two Distribution Companies (DISCOs) in the power sector are being considered for privatization. "We may achieve one or two goals within the next six months."
"We are also hopeful of attracting Foreign Direct Investment (FDI) in the minerals and mining sector, which would boost market sentiment," the PM added.
He confirmed ongoing discussions regarding contracts with Independent Power Plants (IPPs). "We are actively working towards resolving issues related to these contracts. It's an ongoing process." Kakar also confirmed reports of $25 billion in investments from the UAE and Saudi Arabia. "I can confirm that this investment will be spread over a period of two to five years and will cover various sectors, particularly mining, agriculture, and IT."
He expressed Pakistan's commitment to a positive trajectory in its relations with China under the China-Pakistan Economic Corridor (CPEC) and stressed full cooperation with China.
On the Reko Diq project, the caretaker PM indicated that it would commence operations by the end of December. "Once initiated, the project is estimated to be worth around $600-700 billion. We have partners with the financial capacity to invest and develop it into a viable economic model."
Regarding Pakistan-Russia ties, Kakar highlighted Russia's significance in the region and expressed the government's desire for constructive relations with Russia. He also mentioned that there are no policy obstacles to importing Russian oil.
