Pakistan receives over $1bn foreign investment five month period: PM

ISLAMABAD: The country attracted over $1 billion in the head of foreign direct investments (FDI) within first five-month tenure of Pakistan Tehreek-e-Insaf (PTI) government, Prime minister was briefed.

The report, prepared by the State Bank of Pakistan (SBP) was presented in a high-level meeting chaired by Prime Minister Imran Khan, in which it was informed that over $1 billion foreign investment had been received in last five month.

According to SBP report, investment ratio during the same corresponding period of the previous government’s tenure was $426 million.

With PM Khan in chair, the meeting was attended by Foreign Secretary Tehmina Janjua, special assistant to PM Naeemul Haque and other senior officials.

The top government brass reviewed foreign investment during the first five months of the government.

PM Khan said an increased volume of investment indicated confidence of foreign countries on Pakistan. The meeting was briefed on investments made by China, Saudi Arabia, and United Arab Emirates.

Investments by Qatar and Malaysia also came under discussion. The meeting also talked on investment from other countries.

The prime minister was briefed on measures taken by the Board of Investment (BoI). He was told that Industrial Cooperation Unit had been formed within the board whereas a special unit had also been constituted for facilitating overseas Pakistanis willing to invest in the country.

The participants proposed assigning a responsibility regarding investment in different ministries to an officer equivalent to the rank of additional secretary.

Prime Minister Khan said foreign investment and technology transfer was vital for stabilization of economy.

The officials informed the meeting that foreign investors would be provided all possible facilities.