Railways Minister Khawaja Saad Rafique said Wednesday that political uncertainty in Pakistan is the primary reason behind a decline in foreign investments.
While briefing Senate Standing Committee on Pakistan Railways, the minister said that, “International investors that want to make investments in Pakistan are perplexed due to the prevailing situation. Countries would only help us if we ensure political stability in Pakistan.”
He said that if a political circus was held in the country on a daily basis, then it would be difficult for foreign countries to find the heart to investment in Pakistan.
Explaining his point of view, Saad Rafique said that he had felt China’s reluctance to invest in the country owing to political crisis being currently fanned in Pakistan, adding that, “Pakistan Muslim League-Nawaz (PML-N) government succeeded in bringing foreign investments in the country through hard and consistent efforts.”
The minister also showed concern over lack of investment in Pakistan Railways, saying that the country’s railways was in need of capital to keep operations going.
He said that the government wanted China to provide them long-term loans against minimum markup, but the latter had not shown much interest in this regard and instead offered to lend the money on their own terms. “Pakistan cannot take a blind loan from China which could prove detrimental to Pakistan’s long-term development,” he added.
Furthermore, the minister said that it was quite clear during the Gulf Cooperation Council (GCC) meeting that Chinese investors were adamant to invest in Pakistan keeping the present political scenario of the country in mind.
Regarding Karachi Circular Railway project, Saad said that the railways ministry was collaborating with the Sindh government in this regard. He said that the foundation stone of the project would be laid after streamlining all issues first, while adding that taking hasty decisions in this connection would badly disrupt the end result.
Commenting on sit-in politics, he said that such politics had ruined the structures of state power, adding that the efforts to disrupt the democratic system would put the future of investment in jeopardy.
Continuation of the sit-in politics would damage the country beyond repair and severely hit the economy as well, he added. He also said that weaknesses were present in the civilian administration that needed to be plugged at the earliest to make Pakistan stronger.
Speaking further about the Faizabad sit-in in Islamabad, the minister said that the civilian government brought the army on-board to avoid bloodshed. He said that stringent measures had to be adopted to end discord and unrest in the country.
Lending support to the government’s plan of handling the protests, he said, “Some people will support our approach while others will oppose it.” He said it was easy to criticise someone in a drawing room discussion but it was far more difficult to face real issues and address them accordingly.
The minister vowed to resolve the Lahore sit-in in a tactful and mutually beneficial manner, saying that Rana Sanuallah had already explained his position over his controversial remarks regarding the Ahmedi community in Pakistan.