PM's low-cost housing project attracts Singapore govt

KARACHI: Singapore offered its expertise in urban planning to Pakistan in building 5 million low-cost houses’ project announced by Prime Minister Imran Khan in the next five years.

Singapore’s ambassador to Jordan, Shamsher Zaman, placed the offer while addressing business leaders at the Federation House, saying that Pakistan has brought improvements in business atmosphere while Singapore can provide assistance to Islamabad for building five million low-cost houses promised by PM Khan.

It is noteworthy to mention here that the visiting envoy is also serving as vice chairman of South Asia Business Group, and chairman of Middle East Business Group who arrived in along with 22-member delegation including businesspersons and investors.

Singapore also wanted to cooperate Pakistan in different sectors including information technology, port management and infrastructure, said Zaman.

He praised Pakistan Tehreek-e-Insaf-led government’s commitment for bringing economic reforms and national stability. He highlighted that both countries have potential to enhance bilateral relations as the island state

Federal Minister for Maritime Affairs, Ali Haider Zaidi, who was a chief guest on the occasion also addressed the event. Zaidi said that the goverment was diverting Chinese investment to special economic zones and industrial sector under China-Pakistan Economic Corridor project.

On the occasion, President Federation of Pakistan Chambers of Commerce and Industry Daroo Khan Achakzai expressed hopes for re-consideration of Pakistan-Singapore free trade agreement (FTA) as it went delayed to reach into final phase.

Achakzai said that Pakistan was the second largest economy in South Asia and its exports to Singapore stand at $68 million only and imports at $865m. He offered that Pakistan could export its agriculture products to Singapore.

A Memorandum of Understanding (MoU) was signed between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Singapore Business Federation during the event.

A memorandum of Understanding (MoU) was also signed between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Singapore Business Federation to promote economic cooperation under laws and regulations of both countries.