Planning Minister Ahsan Iqbal reiterated on Sunday that four friendly countries have pledged to invest “$27 billion” in the country over the next five years, according to Radio Pakistan.
He shared the investment breakdown in a televised address, saying that Saudi Arabia plans to invest $5 billion while both the United Arab Emirates and Kuwait are set to contribute $10 billion each. Moreover, Azerbaijan will invest $2 billion.
Iqbal made similar claims while responding to various questions at a press conference in Lahore earlier this month. He stated that four countries have allocated the aforementioned amount for investment through launching various mega projects in Pakistan under the framework of the Special Investment Facilitation Council.
“It is crucial to leverage these investments through the continuity of policies and reforms.”
The planning minister emphasised the government’s “dedication to implementing socio-economic and judicial reforms” to accelerate the nation’s economic development.
No one would be permitted to jeopardise the peace and stability of Pakistan, he said and criticised the PTI, urging it to engage “constructively in Parliament” rather than resorting to street protests.
The planning minister claimed that China has also shown willingness for the second phase of the China-Pakistan Economic Corridor, assuring the establishment of five new corridors focused on growth, livelihood, innovation, a green economy, and open regional inclusive development.
Iqbal added that a Danish company plans to invest $2 billion in Pakistan’s port infrastructure. He expressed concern that the PTI was allegedly attempting to obstruct the investment and recalled its previous efforts to undermine the IMF deal.
Such claims related to the massive investment are not new as previous government has also made such statements in the past.
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Jahanzeb Khan, the prime minister’s adviser special investments in the caretaker government, claimed Saudi Arabia and other traditional Middle Eastern allies could potentially line up around $70 billion in investments in various sectors. He had said it was not an “abstract figure.”
When the-then caretaker Prime Minister Anwarul Haq Kakar appeared for an interview with Arab News, he expressed the hope that the Special Investment Facilitation Council would help bring in over $60 billion investment to Pakistan in the next five years.
“It is indeed. It could be probably more than that,” the prime minister said when asked whether the reports that the SIFC would bring in up to $60 billion in investments in Pakistan in the next five years were realistic.
