People to get job opportunities in Ravi River Project: Shibli Faraz

ISLAMABAD: Minister for Information and Broadcasting Senator Shibli Faraz has said the Ravi River Project is the foundation of a new Lahore which will pave the way for investment and provide vast employment opportunities to the people.

On a social media website Twitter, he said plantation, lake and water filtration plant projects will make Lahore beautiful and eco-friendly.

راوی ریور منصوبہ نئے پاکستان میں نئے لاہور کی بنیاد ہے جس سے سرمایہ کاری کی راہ ہموار اور عوام کو روزگار کے وسیع مواقع میسر آئیں گے۔شجرکاری، جھیل اور پانی صاف کرنے کے پلانٹس کے منصوبے لاہور کو خوبصورت اور ماحول دوست بنائیں گے۔#نیا_دور_نیا_لاہور

— Senator Shibli Faraz (@shiblifaraz) August 8, 2020

Earlier, Prime Minister Imran Khan had inaugurated Ravi Urban Development Authority Project during his official day-long visit to the provincial capital on Friday.

As per details, under the project, the Punjab government plans to develop a “most modern city” over an area of more than one 100,000 acres near Lahore.

In another tweet, the Information Minister said acknowledgment by the international institutions of our economic management despite Covid-19 is an outstanding achievement indeed.

Internacional institutions acknowledge our economic management despite Covid-19 , an outstanding achievement indeed.https://t.co/G3Smu9M11h

— Senator Shibli Faraz (@shiblifaraz) August 8, 2020

On Saturday, Moody’s Investors Service has confirmed Pakistan’s B3 local and foreign currency issuer and unsecured debt ratings with a stable outlook.

Despite the risks and challenges, Pakistan’s Ba3 local currency bond and deposit ceilings remain unchanged. The B2 foreign currency bond ceiling and the Caa1 foreign currency deposit ceiling are also unchanged.

The short-term foreign-currency bond and deposit ceilings remain unchanged at “not-prime”. Moody’s said the coronavirus pandemic is weighing on economic activity in Pakistan, resulting in lower tax revenue, a wider fiscal deficit, and a higher debt burden for the government.

The government’s commitment to its current International Monetary Fund (IMF) loan program continues to unlock a large financial envelope that Moody’s expects will cover its external financing needs over the next 12-18 months and provides an anchor for ongoing fiscal reforms.