Pakistan keen to invite foreign investment: Dawood

The government is keen to invite foreign investment in different sectors of the economy, stated Abdul Razak Dawood, adviser to Pakistani prime minister on commerce, industry and investment.

Talking to a private news channel, Dawood said that foreign investment will be mainly for cement plants, naphtha cracker plants, and in the sectors of power production, engineering, chemical, information technology and others.

The advisor was of the view that the deindustrialization situation is a major and alarming challenge for the country, which has led to a decrease in the country's revenue and increased the number of unemployed people.

The government will provide protection to local industry and take necessary measures to reinvigorate all industrial sectors and ensure export-led growth by seeking foreign investments, said Dawood. "The government will provide full protection to the investments to promote export-led growth strategy that would attract investors to establish more export-based industries in the country," said the advisor.

Meanwhile, a high level Saudi delegation led by Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan is in Pakistan. The delegation that will hold meetings with different high-level officials during its stay has showed its interest in setting up a refinery at Gwadar and desalination plants at Karachi and Balochistan coast, along with exploring other avenues for future investment.