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Foreign investments quite beneficial in stabilising national economy: Shah Mehmood Qureshi

04 May, 2019

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Foreign Minister Shah Mehmood Qureshi, on Friday, announced federal government plans for strategies to alleviate the creation of business and investment opportunities.

He was addressing the Investment Conference in Islamabad when he said that foreign investments would be quite beneficial in stabilising the national economy as well as creating employment and remittances. “There is a need to promote investment and trade,” he added. FM Qureshi believed it was high time for entrepreneurs to take advantage of lucrative business opportunities in the country.

The minister talked at length about various sectors, which would be enhanced to improve the economy by facilitating foreign investors and businesspersons. Minister Qureshi assured the exchange of modern technology would be made possible on easy terms.

He maintained the tourism sector would also play an important role in economic betterment. However, the developing countries were said to definitely need the cooperation of the developed nations to meet their targets. Qureshi said for the first time government was pursuing economic diplomacy for socio-economic development of the country.

Saudi Arabia was said to have committed $20 billion investment in Pakistan while the United Arab Emirates and Qatar were also eyeing investments in various sectors.

He noted, “Saudi Aramco wants to establish an oil refinery in Gwadar, moreover, Malaysian Prime Minister had expressed his interest in various sectors in Pakistan during his visit.” “ExxonMobil Company has returned to Pakistan and has been engaged in the exploration of energy resources,” he continued.

Qureshi also talked about the major steps taken to promote tourism. He asserted, “Pakistan is providing E-Visa facility to tourists besides provision of other facilities.”

The foreign minister reiterated that Islamabad desired longstanding peace in Afghanistan and was also playing its due part in the peace process.

“Pakistan played a role for peace, and reconciliation process in Afghanistan, took peace overtures towards India, including opening Kartarpur corridor and reinvigorated relations with China, Saudi Arabia, the United Arab Emirates, Turkey, Qatar, Malaysia and Iran,” he added.

He further asserted, “We are moving in the right direction following the vision of Prime Minister [Imran Khan].” “The Foreign Ministry is also taking steps for amelioration of economy on diplomatic fronts.” he continued.

The foreign minister also said, ” Improvements are seen in different sectors in the first nine months of the present government.” He also called integrated coordination between all institutions “inevitable” for a stable economy.

“Pakistan and China have agreed for initiation of the second phase of China-Pakistan Economic Corridor (CPEC) project,” Qureshi announced. He elaborated, “We are enhancing our industrial sector with Chinese assistance in future, whereas both countries agreed to formulate a Free Trade Agreement (FTA) which would focus on enhancing Pakistan’s industries.”

“The government has taken major steps to bring positive changes in the economy with the support of Saudi Arabia and other countries,” the minister announced. PTI leader claimed, “Pakistan secured financial assistance from friendly countries to overcome its balance of payment issue.”

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