KSA, UAE keen to invest in Pakistan: Musadiq

Minister of State for Petroleum Dr Musadiq Malik said that the Saudi Arabia and United Arab Emirates have shown keen interest to invest in Pakistan’s information technology, agriculture and mining sectors, ARY News reported. 

In an interview with a private television, he said, “Saudi Arabia will invest 24 billion dollars, and the UAE 22 billion dollars in these three sectors.”

The Minister of State said the government has recently constituted committees for one-window operations to facilitate the investors.

Earlier to this, the United Arab Emirates (UAE) is ‘keen’ to invest in Karachi port terminal operations, citing sources, ARY News reported on Wednesday.

Sources said UAE wants to equip Karachi port terminals with the latest technology for the smooth handling of shipments. The sources claimed that the agreement regarding terminal handling with the UAE will be inked before June 30.

Finance Minister Ishaq Dar and Maritime Affairs Minister Faisal Sabzwari are finalizing the conditions of the agreement with the UAE.

Sources said, the panel has been permitted to finalise a draft operation, maintenance, investment, and development agreement under the government-to-government arrangements with a nominated agency of the UAE for handing over the Karachi port terminals.