Finance Minister Ishaq Dar on Saturday said Pakistan would work with brotherly Islamic countries to increase economic co-operation to promote trade and investment. He said this during separate meetings with ambassadors of Qatar, Jordan, and Muscat, who called on him here to reassure their countries' support for Pakistan.
An official handout issued here said that Qatar Ambassador Hamad Ali Al-Hauzab told the minister during the meeting that Qatar would be investing $5 billion in Pakistan in next few years. He said that Qatar has launched Islamic Taqaful Insurance Company in Pakistan and it will enhance investment of his country in Pakistan mutual benefit of the two countries. The two sides also agreed to convene the meeting of joint ministerial commission (JMC) shortly.
Jordan's Ambassador Saleh Ahmed Aljawarneh proposed convening of the meeting of the Joint Economic Ministerial Commission and the meeting of Joint Business Council to increase economic co-operation between the two countries.
He informed the finance minister that free trade agreement (FTA) was expected to be signed in August between the two countries. The two sides also reviewed the co-operation in the field of agriculture and railways. Possibilities of joint venture in manufacturing of phosphate fertiliser was also discussed.
Muscat's Ambassador Mohamed Said Mohamed Al-Lawati discussed the role of Pak-Oman Investment Company in promotion of economic co-operation between die two countries. He said Muscat by financing various projects has been instrumental in accelerating development in Balochistan.
It was also noted that Pak-Oman micro finance is playing a positive role in poverty alleviation. The two sides agreed to accelerate implementation of various projects in Balochistan costing around $27.5 million being financed through grant from Muscat.
The two sides also noted positive development of purchase of 65 percent shares by Pak-Oman Joint Investment Company of World Call shares, its interest in telecommunication and power sector. The Muscat envoy also expressed the interest to develop tourism in Balochistan. Ishaq Dar assured the envoys of his full co-operation in promoting the increased economic ties.