Investment purposes: KSA, UAE showing keen interest in IT, agriculture: minister

Dr. Musadiq 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 industries.

KSA intends to set aside 24 billion dollars for investment objectives, while the UAE has set aside 22 billion dollars to explore prospects in three sectors of Pakistan, he said in an interview with a private television channel.

He noted that massive investment in three important industries of Pakistan would create many job possibilities for young people. Our young people who are knowledgeable about new technologies are completely capable of demonstrating their abilities to the rest of the world, he stated. We intend to provide commercial prospects to the country, he stated. He stated that the government has lately formed committees for One-window operations to assist investors.

Commenting on Nawaz Sharif’s visit to Pakistan, he stated that after the electoral commission of Pakistan announces the date, the former prime minister will travel to Pakistan to head the election campaign. He stated that the present government’s term will end in the middle of August and that the Caretaker Government will request the ECP to announce the date for general elections.

He stated that it is the ECP’s job to hold the upcoming elections in a transparent way. He predicted that the PML-N, led by Nawaz Sharif, will win the general election.

In response to a query concerning the next leadership role in this country, he stated that the PML-N will decide. In response to a query about assistance for the poor, he stated that, despite economic challenges, the government has provided 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 department concerned to ensure energy supply during breakfast, lunch, and dinner timing.” He stated that talks had begun with Azerbaijan on delivering LNG cargo to Pakistan before next winter.

In response to a query concerning the IMF, he stated that a nine-month reprieve through an agreement has been established to handle economic issues properly. He believed that strong investment from the Gulf area will stimulate industry and create job opportunities in Pakistan.

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