Dr Musadik Malik, Pakistan’s Minister of State for Petroleum, mentioned that Saudi Arabia and the United Arab Emirates have expressed a strong interest in investing in Pakistan’s information technology, agriculture, and mining sectors.
In an interview, the minister revealed that Saudi Arabia intends to allocate $24 billion for investment, while the UAE is preparing to put forth $22 billion to tap into opportunities within these three Pakistani sectors. Malik indicated that these significant investments could create numerous employment opportunities for the nation’s youth.
Dr Malik praised the technological knowledge of Pakistan’s younger generation, stating that they can demonstrate their skills globally and that the government is striving to attract business opportunities.
To simplify the investment process, the government recently created committees to oversee one-window operations to assist investors.
When asked about the future leadership role, he stated that the decision rests with the PML-N. Discussing relief measures for the economically disadvantaged, the Minister highlighted that despite economic hurdles, the government had provided maximum relief to employees, pensioners, and those employed in the private sector.
Regarding gas and electricity load-shedding issues, the minister confirmed the issuance of directives to the relevant department to maintain the energy supply during meal preparation times.
He further disclosed that discussions with Azerbaijan are underway for LNG cargo provision to Pakistan before the winter.
Regarding the International Monetary Fund deal, Dr Malik confirmed that a nine-month relief agreement had been established to ensure efficient economic management.
He concluded with the optimism that substantial investments from the Gulf region would stimulate business activities and generate job opportunities in Pakistan.
