Friendly nations to invest $27 billion in Pakistan in coming years: Ahsan
- The planning minister says Saudi Arabia has announced an investment of $5 billion, while the UAE and Kuwait would each invest $10 billion, and Azerbaijan would invest $2 billion
Minister for Planning and Development, Ahsan Iqbal announced Sunday that Pakistan’s allies have promised to invest $27 billion in the country over the next few years, Radio Pakistan reported.
In his televised remarks, the minister said Saudi Arabia had announced an investment of $5 billion, while the UAE and Kuwait would each invest $10 billion, and Azerbaijan would invest $2 billion.
He said the government is committed to bringing socio-economic and judicial reforms to put the country on the fast track to economic development.
The minister categorically stated that nobody would be allowed to play with the peace and stability of the country.
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Strongly criticizing the politics of PTI, he said the party should play its role in the parliament instead of taking to the streets.
Ahsan Iqbal said friendly countries have extended assurance of investing twenty-seven billion dollars in Pakistan in the next five years.
He said these are the external opportunities that are knocking at our doors. He said it is our responsibility to take full advantage of these opportunities through continuity of policies and reforms.
Ahsan Iqbal said China has also shown willingness for the second phase of CPEC. He said China has given assurance for the establishment of five new corridors including that of growth, livelihood, innovation, green economy, and open regional inclusive development.
Monetary easing amid slowing inflation
The Minister for Planning said that a Danish company has announced to invest two billion dollars in Pakistan’s Port Infrastructure.
He regretted that PTI was trying to create impediments in the way of this investment. He recalled that the party had also tried to sabotage the IMF deal.
Ahsan Iqbal said it is important to bring reforms in the judicial system as well to attract foreign investment.
The Minister for Planning said that the economy is improving as a result of the tireless efforts of the present government. He mentioned that the Pakistan Stock Exchange has touched the historic eighty thousand points, which reflects the confidence of domestic and foreign investors. He said international agencies have also upgraded the credit rating of Pakistan.
Similarly, he said inflation has come down to single digits. He said the State Bank of Pakistan has reduced the policy rate which will help accelerate business activities in the country.
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