The prime minister while speaking at the launch of the Prime Minister's Youth Sports Initiative emphasizes the importance of sustainable economic growth.
ISLAMABAD: (UrduPoint/Pakistan Point News-July 18th, 2023) Prime Minister Shehbaz Sharif announced on Tuesday that the country's foreign exchange reserves have seen a significant boost, increasing by $600 million.
The additional funds were provided by the Exim Bank of China, further fortifying the country's financial position.
Speaking at the launch of the Prime Minister's Youth Sports Initiative in Islamabad, Prime Minister Sharif emphasized the importance of sustainable economic growth. He expressed the government's commitment to fostering the development of domestic income sources, rather than relying solely on loans.
The Prime Minister highlighted the potential of the nation's youth in various fields, including sports, Information Technology, industries, and agriculture, to drive progress and prosperity.
During the event, Prime Minister Sharif paid tribute to Pakistani athletes for their exceptional performances and the pride they brought to the nation. To bolster sports promotion efforts, the government allocated five billion rupees in the budget to cover essential expenditures.
If re-elected, the Prime Minister promised to allocate more resources for education, skill development, and further advancement of sports within the country. He outlined the comprehensive Prime Minister's Youth Sports Initiative, which includes establishing a Sports Endowment Fund, the nation's first sports University in Islamabad, an Elite Sportsperson Development Program, and measures to encourage traditional and e-sports.
Minister for Interprovincial Coordination, Ehsan-ur-Rehman Mazari, highlighted the numerous initiatives taken over the past fifteen months to strengthen sports infrastructure in Pakistan. He mentioned the sports policy's implementation to promote various sports and the introduction of structural reforms to empower the youth to compete effectively in international events.
Special Assistant on Youth Affairs, Shaza Fatima Khawaja, praised Prime Minister Shehbaz Sharif for reviving departmental sports and nurturing the capacity and capabilities of athletes. She underlined the inclusion of sports elements in the Prime Minister Youth Program, which facilitated talent hunts for hockey, football, and volleyball across the country. She expressed confidence in the country's talent to achieve greater success on the international stage.
Shaza Fatima Khawaja also explained the key aspects of the Sports Endowment Fund, which will financially support both legendary and emerging players, as well as the elite pool of athletes. Out of the allocated five billion rupees for sports, one billion rupees will be used to establish the sports university to groom sports managers and other technical staff.
