RIYADH/ABU DHABI—In a significant development, the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) have expressed a keen interest in Pakistan’s information technology, agriculture, and mining sectors. Dr. Musadik Malik, the Minister of State for Petroleum, revealed this during an exclusive interview with a private television channel on Sunday.
Dr. Malik disclosed that the KSA has committed to investing $24 billion, while the UAE has allocated $22 billion for exploring opportunities in these three sectors of Pakistan. The substantial investment is expected to create numerous job opportunities for the country’s young population.
“Our talented youth, equipped with advanced technological knowledge, have the potential to showcase their skills to the world,” Dr. Malik stated optimistically. “We are hopeful that this will attract business opportunities and drive economic growth in our country.”
To facilitate the investors, the government has recently formed committees for streamlined one-window operations, aimed at expediting the investment process.
Regarding the return of former Prime Minister Nawaz Sharif to Pakistan, Dr. Malik revealed that after the Election Commission of Pakistan announces the election schedule, the leader of the Pakistan Muslim League-Nawaz (PML-N) will return to the country to lead the party’s election campaign.
Dr. Malik highlighted that the incumbent government’s tenure will conclude in mid-August, after which the caretaker set-up will invite the Election Commission to announce the schedule for the general elections. Emphasising the importance of transparency, he stated, “It is the responsibility of the Election Commission of Pakistan to ensure fair and transparent elections. Under the guidance of Nawaz Sharif, the PML-N is confident of achieving a resounding victory in the upcoming elections.”
When asked about the future leadership role in the country, Dr. Malik stated that the PML-N will decide on the leadership position internally.
Addressing concerns about providing relief to the impoverished population, Dr. Malik highlighted that despite economic challenges, the government has made efforts to provide maximum relief to employees, pensioners, and individuals employed in the private sector.
Regarding the issue of gas and electricity load-shedding, Dr. Malik assured the public, saying, “We have instructed the concerned departments to ensure uninterrupted energy supply during breakfast, lunch, and dinner timings.”
Dr. Malik also mentioned discussions with Azerbaijan regarding the provision of liquefied natural gas (LNG) cargo to Pakistan before the onset of the next winter season.
Regarding the IMF deal, Dr. Malik revealed that an agreement has been reached to provide nine months of relief to manage the country’s economic affairs effectively.
Dr. Malik expressed hope that the substantial investment from the Gulf region will stimulate business activities, create job opportunities, and bolster Pakistan’s economy.
