Saudi Arabia and the United Arab Emirates (UAE) have shown a keen interest in Pakistan’s information technology, agriculture, and mining sectors, according to Minister of State for Petroleum, Dr. Musadik Malik. In an interview with a private television channel, Dr. Malik revealed that Saudi Arabia plans to invest $24 billion in Pakistan, while the UAE has allocated $22 billion for exploring opportunities in these three sectors. This significant investment is expected to create numerous job opportunities for the country’s youth, especially those with advanced technological skills.
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Dr. Malik expressed confidence in Pakistan’s ability to showcase its talented workforce to the world and emphasized the government’s efforts to facilitate investors through the establishment of one-window operation committees. He also discussed the imminent return of former Prime Minister Nawaz Sharif to lead the election campaign for the Pakistan Muslim League-Nawaz (PML-N) after the Election Commission of Pakistan announces the election schedule. The minister stated that the PML-N, under Sharif’s guidance, is poised to achieve a sweeping victory in the general elections.
Regarding relief measures for the impoverished population, Dr. Malik highlighted the government’s commitment to providing maximum relief to employees, pensioners, and private sector workers, despite economic challenges. He also addressed concerns about gas and electricity load-shedding, assuring that directives had been issued to ensure uninterrupted energy supply during meal preparation times.
In terms of energy cooperation, discussions have taken place with Azerbaijan to secure LNG cargo for Pakistan before the upcoming winter season. Additionally, Dr. Malik mentioned the recent agreement with the International Monetary Fund (IMF), which provides a nine-month relief period to effectively manage the country’s economic affairs.
The minister expressed optimism that substantial investments from the Gulf region would not only boost business activities but also create job opportunities in Pakistan. The interest shown by Saudi Arabia and the UAE signifies the potential for growth and development in key sectors, enhancing the country’s economic landscape.
