January 10, 2019 / BY Faizan Shahzad

Pakistan is ready to receive investments from close allies

When the new year 2019 was started, it has brought the new one more reason to celebrate in Pakistan with double happiness and joys. Last year has not been very favorable and beneficial for the economic condition of the country. Every countryman was concerned about this unfavorable condition of Pakistan.

During 2018, many economic criterions were showing a declining trend and the country was with an imminent balance of payment crises. Haroon Sharif, Minister of State and chairman, Board of investment, told to Saudi Newspaper:

“We will be signing agreements with investors from Saudi Arabia, UAE, Germany, Malaysia, and Korea in January which is worth more than dollar thirty billion”. All these countries have the largest economic investment package in the history of Pakistan which would be beneficial for Pakistan’s economic crises.

Pakistan is yet to receive almost 15 billion dollar investment from Saudi Arabia in the next three years. “The inflow of investment for the oil refinery and petrochemical complex in Pakistan is estimated to be between $6 billion to $10 billion.”

Sharif said: “I am expecting a similar amount ($15 billion) from the UAE in the next three to five years in January 2019”. In addition to Saudi Arabia and the UAE, Pakistan has also signed an agreement with China which is described as the second round of the China Pakistan Economic Corridor (CPEC) project.

Apart from these, the BOI has received written commitments from Malaysian, German, and Korean investors which is beneficial for the economic growth of Pakistan.

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