Pakistan’s economy has turned around, says Nawaz

PM invites Qatari investors to explore opportunities in the country

DOHA:

A day after signing the $16 billion liquefied natural gas deal with Qatar, Prime Minister Nawaz Sharif announced an economic turnaround in Pakistan as he invited Qatari investors to explore opportunities in the country’s energy, infrastructure and commercial sectors.

On the second day of his two-day official tour to the Gulf states, Nawaz met members of the Pakistani expatriate community in Doha. He shared details of his meetings with the Qatari leadership who, he said, had particularly lauded the role of the Pakistani community in the development and progress of Qatar.



The premier described Pakistan’s $!6 billion agreement to import LNG from Qatar as ‘landmark’ which would help the country meet its energy needs, and produce fertiliser for domestic needs.

“We will end power shortage in the country and also lower the rates of electricity.”

He explained that the deal would see Islamabad import LNG according to Brent rates and appreciated the Qatar government for providing the gas at competitive rates.

Referring to the economic turnaround in the country, Nawaz said gains made over the past three years had been acknowledged by the world’s financial institutions. He added that the foreign exchange reserves today were at a historic level.

Addressing the scourge of terrorism in the country, the premier said Operation Zarb-e-Azb had helped improve the situation. He added that the operation had broken the back of terrorists and that it would be continued to its logical end.



The prime minister said the multi-billion dollar China-Pakistan Economic Corridor will help further the country’s economy. As part of the project, the Gwadar airport would be made as one of the most beautiful airports of the world. Further road networks were being expanded while work on the Lahore-Karachi motorway was under way.

On the recent strike by Pakistan International Airlines (PIA) workers, he said the government was working to improve efficiency of the airline and vowed to upgrade it to compete with top international airlines such as Qatar’s national flag carrier.

Nawaz invites investment

The premier on Thursday invited Qataris to explore investment opportunities in Pakistan.

In a meeting with the Chief Executive Officer of Qatar Investment Authority (QIA) Sheikh Abdullah bin Muhammad al Thani in Doha, Nawaz asked Qatari investors to explore investment in energy-related projects, infrastructure development, agriculture and consumer based industry in Pakistan.



Highlighting Pakistan’s agricultural potential, Nawaz invited Qatari businessmen to invest in the agriculture and livestock sector.

He added that the government was relaxing rules and regulations to make incentives for FDI in these sectors attractive.

“We desire promotion, diversification and strengthening relations in all fields of bilateral relations,” Nawaz said.

Later, a member of Qatar’s royal family, Sheikh Khalid bin Hamad, called on Nawaz on Thursday. Before his departure to Islamabad, the premier visited different sections of international airport and took keen interest in the way it as being run.

Nawaz was accompanied by Chief of the Air Staff Air Chief Marshal Sohail Aman, Finance Minister Ishaq Dar and other members of the delegation.


Published in The Express Tribune, February 12^th, 2016.