UAE, Qatar ready for huge investment in Pakistan: Dawood

ISLAMABAD: Adviser to the Prime Minister on Commerce, Textile, Industry & Production and Investment, Abdul Razak Dawood Monday said United Arab Emirates (UAE) and Qatar were ready for huge investment in Pakistan soon.

Foreign and domestic investors were showing keen interest to invest here as the present government was providing conducive environment and  equal opportunities to them, he said talking to a private news channel.

He said such investment would pave ways to further strengthen the national economy. Saudi Arabia was investing 20 billion dollars in Pakistan’s various sectors including power, mineral, refinery and others. This investment especially in power sector would help the country to reduce its energy costs, he added.

Abdul Razak Dawood said refinery project of Saudi Arabia in Gawadar would be completed in the next three to five years.

Commenting on visit of Saudi Arabia Crown Prince Mohammad bin Salman, he termed the visit a successful and historical as memorandum of understanding (MoUs) among both the countries were signed in different sectors.

To a query, he said China Pakistan Economic Corridor (CPEC) was beneficial for Pakistan and it would help to decrease power shortage and to improve the country’s infrastructure.

He said when the PTI government came into power, the country's economy was in worst condition, however, the government had taken gigantic measures for its improvement. “We had stopped import of Francis oil,” he stated.

The adviser said Malaysian Prime Minister Mahathir Mohamad and Turkish President Recep Tayyip Erdogan would also visit to Pakistan soon.