Saudi to make biggest foreign investment in Pakistan's history soon: finance minister

[BATMAN]

I think we need to be positive. Pakistan has much to offer

For example?
I can't even buy clean water in Pakistani market!

 

[My-Analogous]

Saudi to make biggest foreign investment in Pakistan's history soon: finance minister

Dawn.comUpdated December 13, 2018
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Finance Minister Asad Umar says an incoming foreign investment package from Saudi Arabia will be the biggest in Pakistan's history. ─ AFP/File

Finance Minister Asad Umar on Thursday said that an incoming investment package from Saudi Arabia, which promises to be "the biggest foreign investment in Pakistan history", will be announced soon.

"The ball is in our court. We have to get cabinet approval next week, after which an announcement will be made," he said, addressing an event in Islamabad.

He added that he keeps getting messages from Saudi Crown Prince Mohammad Bin Salman "through other people to hurry up".

Pakistan and Saudi Arabia have been in talks recently over a bailout package for Islamabad. At a time when various foreign countries and business delegations were pulling out of an investment conference in Saudi after the murder of journalist Jamal Khashoggi, Prime Minister Imran Khan attended the event, inviting foreign investors to put their money into projects in Pakistan.

It was the prime minister's second visit to Saudi Arabia since assuming office, and came as Pakistan was on the lookout for "friendly" nations to court in search of billions of dollar to shore up its deteriorating finances in the face of a balance of payments crisis and talks with the International Monetary Fund over a possible bailout.

'People keep asking when we will jail thieves'
The finance minister, responding to a question, said that he keeps being asked "When will you jail the thieves? This is the demand of the people of Pakistan," he added.

Umar said that he had attended a dinner in Karachi on Sunday with members of Pakistan's business, corporate and executive elite, who had advised him to school Imran Khan "to look forward now and stop harping on about corruption".

"But wherever I come across a Pakistani citizen, they ask me, 'When will you jail the thieves?'," he said. "This class divide has always existed."

"It's a challenge, it's a double-edged sword. You've made a commitment for bringing accountability into society, which demands that if a pickpocket goes to jail for stealing, so does the person who loots the public. It is the leadership's responsibility to ensure that such a situation is not created, that a negative outlook does not prevail."

The minister said that the government is committed to the welfare of the people, Radio Pakistan reported.

He said that the government is focusing on economic revival in order to deliver, and that citizens would soon see "visible improvement".

Oil refinery at Gwadar. 6 billion dollar

 

[BATMAN]

Oil refinery at Gwadar. 6 billion dollar

We can only pray.....

 

[nahtanbob]

I hope this to be true. There are multiple benefits to be had;

1. If a huge invesment occured and was properly utilised, it could help smash poverty in our country.

2. It would also put money back into Saudi pockets. Investment afterall is for profit.

3. It would signal a change in attitude in Saudi. It is an incredibly wealthy country and it can build more ties through trade and commerce than it ever can through "leader to leader" relations, or through missionary work. This could be a model used in Yemen, Iraq, Syria, Somalia - countries in it's neighbourhood where Saudi could improve the countries, build long term allies and make a profit; all at the same time.

positives
today pakistan imports refined petroluem products. after refinery is working you do not have to import those products

negatives
oil refinery is capital intensive but not labor intensive. very few jobs will be created

oil refinery would be owned by Saudis. they would buy Saudi crude. Pakistan would be a captive market for Saudi crude.

the profits from the refinery will go back to saudi arabia

possibility of exporting refined petroluem products is low. India has larger refineries. I assume Iran has large ones too. China is too far to import refined petroluem products

 

[American Pakistani]

Lol...

 

[Kaniska]

I guess it will be 2-5 billion dollars and nowhere close to CPEC as it was technically not FDI

But if it is close to CPEC we have countless reasons to celebrate and our Indian friend will be crying rivers on this forum

You are wrong...India has issue with CPEC as it is passing through Kashmir..
Otherwise...many countries invested in Pakistan...Why India will be concerned if it is not impacting us any way..

 

[Trango Towers]

For example?
I can't even buy clean water in Pakistani market!

Where do u live that you cant buy clean water? I can buy it even in villages and its bottled by Nestle amongst others.

 

[Vanamali]

I

I guess it will be 2-5 billion dollars and nowhere close to CPEC as it was technically not FDI

But if it is close to CPEC we have countless reasons to celebrate and our Indian friend will be crying rivers on this forum

I Think it is irrelevant to bring India into this discussion. No country can invest USD 50+ billion in Pakistan based ROI. China has funded it is as loan not as Investment.

 

[艹艹艹]

lol because its FDI, CPEC isnt. You do realise CPEC is over 100 billion at this point? no country other than China, US and EU can afford such “foreign” investments.

America is more willing to spend more money on war

Saudi Arabia is looking for other sources of income except oil, they have begun the global layout..... now, it appears that the Saudi looking towards the "CPEC"

congrats

 

[HAIDER]

Saudi to make biggest foreign investment in Pakistan's history soon: finance minister

Dawn.comUpdated December 13, 2018
Facebook Count42
Twitter Share
2

Finance Minister Asad Umar says an incoming foreign investment package from Saudi Arabia will be the biggest in Pakistan's history. ─ AFP/File

Finance Minister Asad Umar on Thursday said that an incoming investment package from Saudi Arabia, which promises to be "the biggest foreign investment in Pakistan history", will be announced soon.

"The ball is in our court. We have to get cabinet approval next week, after which an announcement will be made," he said, addressing an event in Islamabad.

He added that he keeps getting messages from Saudi Crown Prince Mohammad Bin Salman "through other people to hurry up".

Pakistan and Saudi Arabia have been in talks recently over a bailout package for Islamabad. At a time when various foreign countries and business delegations were pulling out of an investment conference in Saudi after the murder of journalist Jamal Khashoggi, Prime Minister Imran Khan attended the event, inviting foreign investors to put their money into projects in Pakistan.

It was the prime minister's second visit to Saudi Arabia since assuming office, and came as Pakistan was on the lookout for "friendly" nations to court in search of billions of dollar to shore up its deteriorating finances in the face of a balance of payments crisis and talks with the International Monetary Fund over a possible bailout.

'People keep asking when we will jail thieves'
The finance minister, responding to a question, said that he keeps being asked "When will you jail the thieves? This is the demand of the people of Pakistan," he added.

Umar said that he had attended a dinner in Karachi on Sunday with members of Pakistan's business, corporate and executive elite, who had advised him to school Imran Khan "to look forward now and stop harping on about corruption".

"But wherever I come across a Pakistani citizen, they ask me, 'When will you jail the thieves?'," he said. "This class divide has always existed."

"It's a challenge, it's a double-edged sword. You've made a commitment for bringing accountability into society, which demands that if a pickpocket goes to jail for stealing, so does the person who loots the public. It is the leadership's responsibility to ensure that such a situation is not created, that a negative outlook does not prevail."

The minister said that the government is committed to the welfare of the people, Radio Pakistan reported.

He said that the government is focusing on economic revival in order to deliver, and that citizens would soon see "visible improvement".

Most probably, 15 billion dollar in petro depot near Gawadar.

America is more willing to spend more money on war

Saudi Arabia is looking for other sources of income except oil, they have begun the global layout..... now, it appears that the Saudi looking towards the "CPEC"

congrats

Few days ago CNBC market watch analyze in next few years oil producing countries will start hunting for alternates of gas to run the govt. Because sharp decline in oil and gas demand. EU is heading toward clean air project. China is also adopted emission control transportation. Plus, China is biggest exporter of hybrid batteries.

We can only pray.....

China seems not willing to share the Gawadar port. Karachi port is over crowded. Must be third option. Plus KSA insist Pakistan to revoke Qatar LNG contract and give it KSA. There is no free launch in this world.

 

[Imran Khan]

now please ivest is some money creating projects no more roads

 

[艹艹艹]

China seems not willing to share the Gawadar port.

Gawadar port ≠ Gwadar region

 

[HAIDER]

Gawadar port ≠ Gwadar region

Obviously Gawadar port and adjacent Chinese Industrial zone, plus the residential area, which is under construction. It is huge security zone for Chinese companies , including shopping zone, airport etc .
Imagine Huwai is coming there with full operational units. Its one example plus auto plants etc.

now please ivest is some money creating projects no more roads

sir ma tu aik puncture ki dokan daal raha hoon.

 

[艹艹艹]

Obviously Gawadar port and adjacent Chinese Industrial zone, plus the residential area, which is under construction. It is huge security zone for Chinese companies , including shopping zone, airport etc .
Imagine Huwai is coming there with full operational units. Its one example plus, auto plants etc.

now，How many companies are investing in gwadar? Do you have any information about that? Thanks for sharing

 

[HAIDER]

now，How many companies are investing in gwadar? Do you have any information about that? Thanks for sharing

No information yet, but few Chinese tycoon visit PM of Pakistan and there projects are under construction in Pakistan. Huwai group of industries is one of them.LIFAN and Beijing Automobile Works (BAW)