Pakistan

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
Published September 15, 2024

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.

‘Amendment package’ likely to be tabled today

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.

Comments

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T Sep 15, 2024 04:23pm
the same exaggeration every time and the same blank promises.
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Faiz Jalib Sep 15, 2024 05:51pm
Well done! A new country roped in to Pakistan's pyramid schemes!! Hope it'll take them at least a decade to figure things out.
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test Sep 15, 2024 08:31pm
I trust the intention of this govt to bring investment because in the past Nawaz Sharif had really brought investments from China in the form 62 bilion usd CPEC mega projects initiative of Belt & Road
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KU Sep 15, 2024 08:35pm
What ever you say, we have no choice but to swallow it.
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zh Sep 15, 2024 08:46pm
The promises of a better Pakistan are all in the future; the present is dismal.
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Arsalan Sep 16, 2024 05:18am
good efforts but y is it that every govt official ends thr conversation on PTI. surely they r on pti phobia. clearly they are afraid of them and in complex. anyway give us results or the gallows again
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Arsalan Sep 16, 2024 05:19am
pti this, pti that. isnt thr anything else to talk abt
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