A lucrative Destination for Investors Pakistan

A lucrative destination for investors, Pakistan

Prime Minister Mohammedmian Soomro on Friday said Pakistan has become a lucrative destination for foreign investment in view of the availability of skilled manpower and comparatively low cost of production and a level playing field which is equally available to both foreign and local investors. He appreciated the investment made by the International Petroleum Investment Company (IPIC) in Pakistan in various sectors of national economy particularly in the energy sector.

The Prime Minister was talking to Managing Director of IPIC, Khadem A. Al Qubaisi, who met him here at the Prime Minister Secretariat this evening.

The Prime Minister said that Pakistan with a population of 160 million people has enormous potential in several sectors including power generation, alternative sources of energy, railway, IT and telecom, banking, housing and construction, oil and gas, insurance, engineering and automobile.

He said the government believes in continuation of the economic policies to sustain the economic upsurge as well as to attract more foreign investment in the country.

The Prime Minister said that the incentives and investor friendly policies are unique to attract the investors from abroad, adding, Pakistan is the future hub of the economic activities of the region.

He said the government is focussing on the National Trade Corridor program by developing road and rail network to connect within and with the Central Asian Republics as well as with other countries in the region.

The Prime Minister said that because of the initiatives undertaken by the government in the communication sector, the teledensity in country has also increased to 46% and it is continuously increasing.

Khadem A. Al Qubaisi while appreciating the economic policies of Pakistan mentioned that IPIC is eager to invest more in Pakistan in the telecom, power generation, banking, real estate, projects of alternative sources of energy and infrastructure development projects.

He said his company has already signed MOU with Pakistan to establish Khalifa Refinery with a total cost of $ 5 billion and would keen to invest more in other sectors as well because the conditions in Pakistan are very attractive and his group has a great confidence in the investment friendly policies of the government.