Big News for Jobless! Govt Announces Free E-Bikes & Loaders | Billions in Rail Investment Coming?

Summary

In this interview, Sheikh Qaiser Ahmed Sheikh discusses key national issues including unemployment, economic development, and political challenges in Pakistan. He praises the government’s initiatives like the electric rickshaws project aimed at providing employment opportunities for youth, and the new trade route between Pakistan, Afghanistan, and Uzbekistan to boost regional business. Sheikh also emphasizes the importance of reducing fraud and simplifying business regulations to attract foreign investment. He highlights the improvements in relations with Afghanistan, especially regarding trade and security cooperation, while addressing concerns around inflation and the role of the business community in Pakistan's development.

Takeaways

• 😀 Prime Minister Shahbaz Sharif's initiative to provide electric rickshaws and loaders aims to reduce unemployment by promoting self-employment and entrepreneurship, especially for the youth.
• 😀 The government is encouraging people to take responsibility for their own employment, with a focus on reducing dependency and preventing poverty and begging.
• 😀 The introduction of the co-national train service between Pakistan, Afghanistan, and Uzbekistan is expected to boost trade and improve regional connectivity, particularly benefiting Pakistani ports.
• 😀 The train route will improve trade between Central Asia and Pakistan, especially by utilizing the warm water ports of Gwadar and Karachi.
• 😀 Mian Nawaz Sharif's leadership in the Pakistan Muslim League (PML-N) has led to significant economic developments, including a surplus current account and stabilized exchange rates.
• 😀 Despite some inflation, the overall economic situation has improved, with inflation rates at their lowest in 10 years and stabilized currency values.
• 😀 There is tension between the business community and the government, especially regarding the authority of the Federal Board of Revenue (FBR) to arrest traders. The government is pushing to combat sales tax fraud effectively.
• 😀 The government aims to improve the ease of doing business by removing unnecessary regulations and creating a one-window operation system to attract more investments.
• 😀 Foreign investment in Pakistan has not met the ambitious targets, but reforms are underway to improve the investment climate, particularly by simplifying business processes and cutting down on bureaucratic hurdles.
• 😀 Relations between Pakistan and Afghanistan are improving, particularly with efforts to curb cross-border terrorism and enhance trade between the two countries. There has been a significant increase in exports to Afghanistan in the past few months.

Q & A

How does Sheikh Saheb view the government's initiative to provide electric rickshaws and loaders to unemployed people?

Sheikh Saheb views the initiative as a positive step towards addressing unemployment by encouraging self-employment. He believes it will help young people become entrepreneurs and take control of their livelihoods instead of waiting for government jobs.

What impact does Sheikh Saheb think the new train route between Pakistan, Afghanistan, and Uzbekistan will have?

Sheikh Saheb believes the new train route will significantly improve trade and regional connectivity. It will provide a vital trade link between Central Asia and Pakistan, especially since Pakistan’s ports offer the shortest access to warm waters for these countries.

What is Sheikh Saheb's opinion on the success of the Muslim League's policies in the last 16 months?

Sheikh Saheb praises the Muslim League for stabilizing the economy, especially by reducing inflation and stabilizing the exchange rate. He highlights Mian Nawaz Sharif's leadership, which has led to the country's first surplus current account in years and improved economic conditions.

How does Sheikh Saheb perceive the ongoing conflict between the government and the business community over sales tax fraud?

Sheikh Saheb acknowledges the importance of combating sales tax fraud, but he stresses the need for dialogue between the government and the business community. He believes that legitimate businesses should not be unfairly targeted, and the issue should be resolved through understanding and collaboration.

What is Sheikh Saheb's stance on the government's claim of attracting foreign investment to Pakistan?

Sheikh Saheb is cautious about the government's claim of large-scale foreign investment, stating that only about $3 billion worth of capital has been invested recently. However, he is optimistic about future prospects, as the government is working to improve business regulations and create a more investor-friendly environment.

What efforts are being made to improve the investment climate in Pakistan?

Sheikh Saheb discusses efforts to simplify business regulations by eliminating unnecessary rules and creating a one-window operation. The government is working on improving the ease of doing business, which should make Pakistan a more attractive destination for investors.

How does Sheikh Saheb view the role of foreign capital in Pakistan’s economy?

Sheikh Saheb believes foreign capital is essential for Pakistan’s economic growth. However, he points out that capital will only flow into the country if the business climate improves, which is why the government is focusing on making regulatory changes to facilitate foreign and domestic investment.

What are Sheikh Saheb's thoughts on the political leadership of Mian Nawaz Sharif?

Sheikh Saheb has high regard for Mian Nawaz Sharif’s political experience. He credits Nawaz Sharif with major achievements such as CPEC, industrialization, and economic development, and believes his leadership has brought stability to Pakistan’s economy and governance.

What steps are being taken to resolve misunderstandings between the government and the business community?

Sheikh Saheb emphasizes the importance of dialogue and understanding. He mentions that efforts are being made to reach out to business stakeholders, and that the government is working on removing misunderstandings by explaining policies clearly to businesses.

How does Sheikh Saheb assess the improving relations between Pakistan and Afghanistan?

Sheikh Saheb sees the improving relations between Pakistan and Afghanistan as a positive development, especially in terms of trade. He mentions that Afghanistan has realized the importance of stopping cross-border terrorism, and this mutual understanding is fostering stronger economic ties between the two countries.