Islamabad (TDI): Federal Minister for Planning and Development Ahsan Iqbal said Sunday that five friendly countries had extended assurances to invest a total of $27 billion over the next five years.
In his televised remarks today, Iqbal said Saudi Arabia had announced to invest $5 billion in Pakistan. “The United Arab Emirates (UAE) and Kuwait will each invest $10 billion, while Azerbaijan will invest $ 2 billion in the country,” he said.
The minister said the government was committed to bringing socio-economic and judicial reforms to put the country on the fast track the economic development.
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Besides these commitments, a Danish company has also pledged to invest $2 billion in Pakistan’s Port Infrastructure.
“These are the external opportunities knocking at our doors. Now, it is our responsibility to take full advantage of these opportunities through continuity of policies and reforms.”
Iqbal further said China was willing to start the second phase of the China-Pakistan Economic Corridor (CPEC), besides giving assurances of five new corridors including growth, livelihood, innovation, green economy and open regional inclusive development.
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Iqbal highlighted that the government’s timely measures had put the economy back on track.
“Pakistan Stock Exchange has touched the historic eighty thousand points, which reflects the confidence of domestic and foreign investors,” he said, adding that the 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.
