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

ISLAMABAD: Minister of State for Petroleum Dr Musadiq Malik on Sunday said that Kingdom of Saudi Arabia and United Arab Emirates are taking keen interest in Pakistani information technology, agriculture and mining sectors.

KSA has planned to fix funds of 24 billion dollars for investment purposes, while UAE allocated 22 billion dollars funds for exploring opportunities in three sectors of Pakistan, he stated in an interview with a private television channel.

The heavy investment in three major sectors of Pakistan would open many job opportunities for young people, he added. Our young people having knowledge of advanced technology are fully capable to show the world about their skills, he said. We are hopeful to bring business opportunities here in this country, he said. He said the government has recently constituted committees for One-window operations to facilitate the investors.

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Commenting on Nawaz Sharif’s arrival in Pakistan, he said, after the announcement of the date by the election commission of Pakistan, the former prime minister will come Pakistan to lead the election campaign. He said the incumbent government’s tenure will be finished by August mid and the Caretaker set-up will invite ECP to announce the schedule for general elections.

He said it is the responsibility of ECP to hold the next elections in a transparent manner. He said the PML-N under the guidance of Nawaz Sharif would sweep the general elections.

To a question about the next leadership role in this country, he said the PML-N will decide about the leadership role. To a question about relief to poor people, he said despite economic challenges, the government has provided maximum relief to employees, and pensioners besides the people working in the private sector.

About load-shedding of gas and electricity, he said, we have issued directives to the department concerned to ensure energy supply during breakfast, lunch and dinner timing. He said that a discussion has been made with Azerbaijan regarding the provision of LNG cargo to Pakistan before next winter.

To a question about IMF, he said a nine-month relief through an agreement has been made to run the economic affairs in a proper manner. He hoped that heavy investment from the Gulf region would boost business activities besides open job opportunities in Pakistan.