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Prime Minister Imran Khan, on a two-day official visit to Malaysia, said Pakistan intended to learn from Malaysia’s economic development and progress through the years. The premier also invited Malaysian counterpart Mahathir Mohammad to attend Pakistan Day celebration in 2019. The two countries agreed to enhance bilateral cooperation in trade, privatisation, foreign direct investment, food and tourism.

“We look up to him [Mahatir] – a leader who transformed his country. We have followed Malaysia’s progress and my party [Pakistan Tehreek-e-Insaf] wants to learn from your leadership. How Malaysia transformed its economy, developed and raised per capita and gross domestic product.”

The cricketer-turned-politician said Pakistan was particularly interested in how Malaysia developed its tourism. “We have untapped tourism potential in Pakistan. We have tourism spots but no resorts.”

Noting that the two leaders had acquired mandate campaigning on an anti-corruption platform, PM Imran said both the governments were faced with a similar situation: the crisis of unprecedented debt. He added that the discussion revolved around dealing with and coming out of the present crisis

PM Imran arrives in Malaysia on two-day official visit

During the meeting, the Malaysian side remembered Justice Abdul Hameed, who was also a member of the Reid Commission, and his contribution in drafting the Malaysian constitution. Malaysian investors expressed interest to invest in various sectors in Pakistan, especially in the areas of education, technology, telecommunication, e-governance, e-commerce and tourism.

Expressing confidence in the country’s market potential, they noted that the investment policy is one of the most liberal in the region. PM Imran assured the investors of full support, saying the chairman of Board of Investment (BoI) would ensure smooth and expeditious initiation of projects. The two leaders welcomed the establishment of bilateral consultation between senior officials of foreign ministries and the convening of first consultation in Islamabad next year.

The joint statement issued by the two governments 

Reflecting on longstanding and substantial economic, commercial, and investment ties, both leaders welcomed continued efforts to intensify cooperation between Malaysia and Pakistan. They underpinned their shared desire to strengthen bilateral economic ties, expand trade and investment, create favourable conditions for commerce and business in both countries, particularly in palm oil, agri products, food retail, halal products, automotive parts, energy, science and technology, and telecommunication. The sole electric provider company in Malaysia, Tenaga Nasional Berhad is open to business opportunities with Pakistan including in renewable energy.
Reaffirming the Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA) signed on 8 November 2007 in Kuala Lumpur which entered into force on 1 January 2008, Malaysia and Pakistan recognised the importance of regular discussions to strengthen the trade relationship in key sectors and addressing bilateral trade imbalance.

Both leaders also welcomed continuing efforts to further enhance bilateral economic relations and underscored the importance of these efforts in advancing cooperation between Malaysia and Pakistan. In this regard, both sides look forward to a possible MPCEPA Joint Committee Meeting in the near future with the intention to enhance further economic partnership.

On the Inter-Governmental Agreement on Liquefied Natural Gas (LNG) between Malaysia and Pakistan signed in November 2017, Prime Minister Tun Dr. Mahathir Mohamad reiterated Malaysia’s commitment to assist Pakistan in addressing its energy shortfall. In this regard, Prime Minister Imran Khan welcomed Malaysia’s cooperation in LNG and other energy sectors including hydroelectric and renewable resources.

Recognising Malaysia’s success in the high-tech industry hub in the northern state of Penang, Pakistan highlighted their intention to explore greater collaboration between high-tech industries in Malaysia and Pakistan. Malaysia invited Pakistani companies to invest in Malaysia in both manufacturing and services sectors where the companies are able to leverage Malaysia’s strategic location in expanding their investments into ASEAN and the Asia Pacific regions. Pakistan invited potential Malaysian companies to explore the possibility of investing in Special Economic Zones to take advantage of Pakistan’s strategic location at the crossroads of Central, South and West Asia.

Both leaders reaffirmed the importance of the Memorandum of Understanding on Defence Cooperation and looked forward to the 13th Joint Committee on Defence Cooperation (JCDC) which will be convened in 2019 in Kuala Lumpur. Malaysia invited Pakistan to participate in the upcoming Langkawi International Maritime and Aerospace Exhibition (LIMA) in 2019. Pakistan also welcomed Malaysia’s participation in the upcoming Defence Expo IDEAS- 2018.

As two peace-loving Islamic nations, the two leaders agreed to increase their collaborative efforts to uphold the true values of Islam in international fora while strengthening the solidarity of the Muslim Ummah. Both sides reaffirmed their commitment to collaborate more closely on issues affecting the Muslim world including taking joint efforts in underscoring Muslim sensitivities in attacking Muslim holy personalities and religious belief. Both stressed that terrorism cannot be associated with any religion or belief. Views were Malaysian side took note of the massive counter-terrorism efforts that Pakistan has successfully undertaken in an effort to eliminate terrorism.

Both leaders witnessed the signing of the Partial Visa Abolishment Agreement (PVAA) which will reinforce the positive momentum in the bilateral relationship by broadening contact at the officials’ level between the two countries.

PM Imran in Malaysia
PM Imran had arrived in Kuala Lumpur late Tuesday with his entourage of Foreign Minister Shah Mehmood Qureshi, Minister for Finance Asad Umar, Minister for Information and Broadcasting Chaudhry Fawad Hussain, and Advisor on Commerce Abdul Razak Dawood.

He was welcomed by Deputy Foreign Minister Marzuki bin Yahya and senior minister Dr Muhammad bin Rafique at the Kuala Lumpur airport.
On Wednesday, the premier was received by his Malaysian counterpart for an official welcome ceremony at Dataran Perdana in Putrajaya.
PM Imran was presented Guard of Honour at an official welcoming ceremony at Perdana Putra, Putrajaya.


Prime Minister Imran Khan on Wednesday unveiled his government's four-pronged strategy to pull Pakistan out of its "quagmire of loans". The prime minister, while addressing the Pakistani community in Malaysia where he is currently on a two-day official visit, said that the government was committed to uplift the living standard of poor and downtrodden segments of society by improving governance and ending 
corruption.  The premier said that the PTI-government was working on four areas on priority basis.

Increasing exports
The first step towards ridding the country of its chronic loan cycle is to increase exports, said Khan.   "If Malaysia, with a population of 30 million people, has exports worth $220 billion, and we, with a population of 201 million people have exports worth $24bn, then clearly we are doing something wrong," Prime Minister Khan said, adding that his team was working on a "programme to increase exports".

Sending remittances through legal channels
The second step, the premier said, was to create legal channels for overseas Pakistanis to send their remittances through. He said that the finance minister was working on an incentive programme to make routing of remittances easier.

"Currently, we receive $20bn in remittances," the premier said. "We (the government) think that if all the money sent in remittances [is sent via legal channels], then we will receive at least $10-12bn in addition.  Right now, we are facing a shortfall of $12bn. If we start receiving all our remittances [through legal channels] then this problem will be solved."

Attracting investments

The prime minister also emphasised the importance of attracting investments, particularly from foreign businesses. "We will continue to face a shortfall of dollars if we do not attract foreign investments," he warned.  He, however, lauded "the overseas Pakistanis' craze" to invest in the country and vowed to facilitate them by fixing the governance system in Pakistan. He also promised to create an "ease of doing business" for investors — both foreign and domestic.  
"There will be a designated office within the PM Office and its sole purpose will be to solve any problems being faced by investors," he said.

He claimed that past authorities had impeded investors by stopping them from earning profits. "Why would anyone invest in [the country] if they don't earn profit?" he asked.

"We should help them (investors) to make money," the premier said, reminding that wealth creation helps a country grow. "Mahathir Mohammad (Malaysian prime minister) told me this 20 years ago, when I met him soon after entering politics."

Putting an end to money laundering

The last of his quartet of measures to drag the country out of the economic mess was ending the practice of money laundering. He said that Rs10bn was sent abroad through money laundering every year but assured that every agency in Pakistan is now working diligently to make it hard for people to move funds abroad illegally.

"We have signed MoUs (Memorandums of Understanding) with different countries," he said. "And gradually, we are also getting details of the money that has been sent abroad illegally."    Imran Khan said that the recent aid packages acquired by his administration through "friendly countries" was just a temporary solution to Pakistan's economic woes.   "We have acquired loans from friendly countries in order to repay instalments of loans that were borrowed earlier," he said. "Even now we are trying that we have to borrow the least amount of money possible from the IMF (International Monetary Fund), with whom we are in negotiations right now. But this is temporary. This is like treating cancer with Disprin."

The prime minister also took a jibe at opposition parties, claiming that they were waiting to see the new government fail from the first day.   "That is what they are hoping for," he said. "They are scared because they know that as long as I am in power, they will be in danger. They know that they will have to go to jail in a few days.

"This is why everyone is coming together to save democracy. It is not democracy that they are trying to save. They are uniting to save their thievery.  "But you will see, for the first time [in Pakistan history], the government will not give anyone an NRO or make a deal in the name of Charter of Democracy. We will throw each one of them in jail."

The prime minister reiterated his aim to follow the model of the state of Madina in order to fix Pakistan's problems, announcing that his government will announce a poverty alleviation programme by the end of the week.


The wide side discusses Pakistan's relations with China, China Pakistan Economic Corridor CPEC, relations with United States of America, Pakistan's IMF needs which Asad Umar highlighted and trade with neighboring countries! We also discussed the new bus service between China and Pakistan that will help connect businessmen from both sides.

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RE: PAKISTAN'S VISION 2025 - by globalvision2000administrator - 11-21-2018, 09:42 PM

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