No economic success without political stability: Gilani

August 9th, 2011 - 12:15 pm ICT by IANS  

Yousuf Raza Gilani Islamabad, Aug 9 (IANS) No country can achieve economic prosperity without political stability, says Pakistan Prime Minister Yousuf Raza Gilani.

Addressing the Pakistan Investors Forum at Jeddah, Gilani said Pakistan was facing numerous challenges at various fronts.

He said the challenges included the country’s war against terror, the impact of the global recession, high international prices of petroleum products, and the massive damages of up to $10 billion caused by the floods last year.

He, however, said the national economy was resilient and was braving these challenges by pursuing a vigorous reform agenda, reported Associated Press of Pakistan.

The prime minister, who is in Saudi Arabia on a two-day official visit, interacted with investors and businessmen and sought their suggestions to enhance trade ties between the two countries.

The Pakistan Investors Forum was launched about five years ago and now has over 600 members. It is undertaking several construction activities in Saudi Arabia.

The prime minister said the amount of foreign remittances have risen to $12 billion, the country’s exports to $26 billion and foreign exchange reserves to $18.3 billion.

He assured the Pakistani expatriates that the country was in safe hands.

Gilani said the 1.5 million Pakistanis in Saudi Arabia were playing a key role in building the national economy and termed them an asset.

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