ISLAMABAD: Prime Minister Shehbaz Sharif told cabinet members Monday that $5 billion will be invested in the nation’s various sectors by Azerbaijan and Qatar.
Speaking at a federal cabinet meeting, the prime minister stated that he has had very fruitful discussions with the presidents of Saudi Arabia and Qatar, where a variety of topics were covered, including the IT industry, mines, solar energy, and minerals.
He stated that because Qatar has declared its intention to invest $3 billion, a delegation of the Qatar Investment Authority would soon travel to Pakistan.
According to Mr. Sharif, at a meeting, Saudi Crown Prince Mohammed bin Salman informed him that there were several chances for workers with IT training and requested that he transfer qualified individuals from Pakistan to Saudi Arabia since they needed IT specialists.
claims that Saudi Arabia requires IT specialists.
According to the prime minister, the emir of Qatar has also made references to establishing an IT park in Pakistan.
In addition, Mr. Sharif gave the cabinet an update on economic relations with Azerbaijan, stating that the two nations had decided to increase investment to $2 billion across a range of industries.
He said that agreements and memorandums of understanding were signed during Azerbaijani President Ilham Aliyev’s visit, signifying a mutual understanding between the two nations.
The PML-N Parliamentary Party was also reassured at the discussion over the country’s economic stability and the influx of foreign investment.
The prime minister claimed that the State Bank of Pakistan had lowered the policy rate by 250 basis points, bringing the interest rate down from 17.5 percent to 15%. He also claimed that this would encourage business, promote exports, and create jobs.
He asserted that all national and international organizations are forecasting economic stability in the nation as a result of the government’s efforts to lower inflation from 38 percent to 7 percent.
According to the prime minister, the malicious schemes of those who wanted to cause turmoil and drive the nation to the brink of default have been thwarted.
Mr. Sharif praised PML-N lawmakers for putting the nation’s interests ahead of their own political agendas.
He claimed that a new phase of the two nations’ economic cooperation had begun during his most recent trip to Saudi Arabia.
The prime minister claimed that while taking part in the Future Investment Initiative, he had in-depth discussions with Saudi Crown Prince Mohammed bin Salman, who promised full support for Pakistan’s economic growth and stability.
According to him, Saudi Arabia would invest $2.8 billion instead of $2.2 billion.
