KSA, UAE willing for heavy investment in three major sectors of Pakistan

Dr. Musadik Malik, Minister of State for Petroleum, stated on Sunday that the Kingdom of Saudi Arabia and the United Arab Emirates are interested in Pakistan’s information technology, agriculture, and mining sectors.

According to the state minister in an interview with a private television channel, the KSA planned to fix $24 billion in funds for investment objectives, while the UAE allotted $22 billion money for exploring potential in three sectors of Pakistan.

He noted that massive investment in three important industries of Pakistan would create many job possibilities for young people.

“Our young people who have knowledge of advanced technology are fully capable of demonstrating their skills to the rest of the world,” he remarked. “We are hopeful that we will be able to bring business opportunities here to this country.”

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He stated that the government has formed committees for one-window operations to assist investors.

On former Prime Minister Nawaz Sharif’s visit in Pakistan, he stated that after the Election Commission of Pakistan announces the date, the PML-N supremo will come to Pakistan to head the election campaign.

He stated that the present government’s term will finish in mid-August, and that the caretaker administration would request the ECP to declare the date of general elections.

He stated that it was the ECP’s job to hold the upcoming elections in a transparent way. “The PML-N, led by Nawaz Sharif, will sweep the general elections.”

In response to a question about the next leadership role in this country, he stated that the PML-N would make the decision.

In response to another question about relief for the poor, he stated that, despite economic challenges, the government gave maximum relief to employees, retirees, and persons working in the private sector.

Concerning gas and electrical load-shedding, he stated, “We have issued directives to the concerned department to ensure energy supply during cooking breakfast, lunch, and dinner timing.”

He stated that talks had taken place with Azerbaijan on supplying LNG cargo to Pakistan before next winter.

Concerning the International Monetary Fund agreement, he stated that a nine-month reprieve had been established by an agreement to conduct economic issues properly.

He believed that strong investment from the Gulf area will stimulate industry and create job opportunities in Pakistan.