ISLAMABAD: Prime Minister Nawaz Sharif on Monday said sit-ins led by Pakistan Tehreek-i-Insaf (PTI) and Pakistan Awami Tehreek (PAT) in the capital had caused huge economic loss to the country and brought the value of rupee down against the US dollar.

"[PTI and PAT] are playing with Pakistan's progress and blocking its way to prosperity," the premier said, adding that the protests would soon be left behind and the country would move towards development.

"Foundation for mature politics has been laid down by us and this tradition should be pushed forward," he said.

Prime Minister Nawaz also lamented that the cancellation of Chinese President Xi Jinping's visit was due to the sit-ins. Pakistan's foreign friends were also unhappy with such politics, he added.

The prime minister vowed to overcome internal security challenges and unemployment issues confronting the country.

'Pakistan the right place for long-term investments'

During his address on a two-day investment conference titled "Invest Pakistan: priority sectors and legal framework for investment in the country" in the federal capital, the premier said there were opportunities for investors in Pakistan and termed the country the place for long-term investments.

Prime Minister Nawaz said there were numerous power projects in the pipeline which he hoped would soon overcome demand.

"We plan on privatising the power distribution network which will make investment in the power sector appear very attractive," he said.

The premier admitted that Pakistan had been slow in adapting to the fast changing global economic developments and said it was not catching up rapidly.

"The government is fully aware of the vertical integration of economies in a globalised world," he said, adding that the country's economic policy was instrumental in throwing open doors laden with vast opportunities for prospective investors to make up for lost time.

The conference was organised by the Board of Investment (BoI) to exhibit the country’s strength as an excellent place to do business which has been open to foreign investment.

BoI Chairman Dr Miftah Ismail had earlier told a press conference that the event would provide an opportunity to foreign and local businessmen and investors to interact with each other and explore joint ventures and investment opportunities in sectors like energy, oil and gas, privatisation, information technology and telecommunication, roads and infrastructure, agriculture and livestock, mining and minerals, financial sector and the capital market.

The highest number of participants in the conference were from China, followed by Bahrain, South Korea, Saudi Arabia and Russia.