Minister for Planning and Development, Ahsan Iqbal, announced on Sunday that several countries have pledged to invest a total of $27 billion in Pakistan over the next few years. Saudi Arabia, the UAE, Kuwait, and Azerbaijan are among the countries making significant investments, with Saudi Arabia pledging $5 billion, and the UAE, Kuwait, and Azerbaijan each committing $10 billion, and $2 billion respectively.
During a televised address, Minister Iqbal emphasized the government’s commitment to implementing socio-economic and judicial reforms to accelerate the country’s economic development. He also stressed the need to safeguard peace and stability within the nation, stating that no one would be allowed to jeopardize it.
Additionally, Minister Iqbal highlighted the likelihood of a proposed “amendment package” being tabled, and criticized the opposition party PTI, urging them to play a more constructive role in parliament rather than resorting to street protests.
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Furthermore, Minister Iqbal mentioned China’s interest in the second phase of the China-Pakistan Economic Corridor (CPEC) and its commitment to establishing five new corridors, including those for growth, livelihood, innovation, green economy, and open regional inclusive development.
The minister also noted that a Danish company has announced a $2 billion investment in Pakistan’s Port Infrastructure, expressing regret that the opposition party PTI was attempting to obstruct this investment and had previously tried to disrupt the IMF deal.
Minister Iqbal underscored the importance of judicial reforms to attract foreign investment and highlighted the improved economic conditions under the current government, citing the historic benchmark of the Pakistan Stock Exchange reaching eighty thousand points and the decrease in inflation to single digits. He also mentioned that international credit rating agencies had upgraded Pakistan’s credit rating and noted that the State Bank of Pakistan had reduced the policy rate, which is expected to boost business activities in the country.
