Pakistan has received $16b foreign investment: Interior Minister
Does not mention timeframe or how he arrived at the figure
Interior Minister Ahsan Iqbal. PHOTO: APP
LAHORE:
Pakistan has attracted over $16 billion in foreign investment despite a downturn in the world economy, said Federal Interior Minister Ahsan Iqbal, without divulging details of the breakup of the inflow.
He was speaking on Saturday at the inauguration ceremony of the International Business Conference and Exhibition (IBCE-2017) organised by University of Management and Technology (UMT) at the Lahore Expo Centre.
Entire region to profit from CPEC, says Iqbal
Iqbal said Pakistan is seeing a return of foreign investment, structural reforms implementation, and improvement in the overall fiscal and monetary situation.
While the country only attracted $2.4 billion as foreign direct investment in 2016-17, an amount that was 5% higher year-on-year, Iqbal’s statement seemed without context as he did not mention a timeframe for the $16-billion inflow.
Estimates, however, suggest the minister’s number includes the inflow related to the China-Pakistan Economic Corridor that is mostly not included in the official FDI figures released every month by the State Bank of Pakistan.
Meanwhile, Iqbal urged the participants on strengthening academia-industry linkages, which according to him, would support economic empowerment and rapid development in the country. He lauded the organisers of the conference and said that the government fully endorses IBCE and considers all the sponsors and exhibitors as government’s partners in the journey of national development and stability in the region.
More than 150 groups of companies and business firms representing 15 countries, 300 exhibitors, 4 top diplomats from Turkey, Cambodia and Nigeria, a dozen CEOs of multinational companies and more than 70 national companies registered for the IBCE.
The Ministry of Finance, Board of Investment, Government of Pakistan (BOI), Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), Board of Investment, Punjab Board of Investment & Trade, Pakistan (PBIT), Pakistan Engineering Council (PEC), Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and other public outlets participated in the event.
Parallel to the industrial expo, conference on business education was also held.
CPEC going smoothly despite challenges: Ahsan Iqbal
Turkish President’s Chief Advisor Ihsan Sener said that he was delighted to see foreign exhibitors in such a big number. He said Turkey had brotherly relations with Pakistan and it was supporting the country in a number of areas.
Nigeria Industries Minister Abdou Maman said that the solution of hunger, ignorance, and poverty lies in quality education, research and then doing business at the large scale.
Published in The Express Tribune, October 29th, 2017.
Pakistan has attracted over $16 billion in foreign investment despite a downturn in the world economy, said Federal Interior Minister Ahsan Iqbal, without divulging details of the breakup of the inflow.
He was speaking on Saturday at the inauguration ceremony of the International Business Conference and Exhibition (IBCE-2017) organised by University of Management and Technology (UMT) at the Lahore Expo Centre.
Entire region to profit from CPEC, says Iqbal
Iqbal said Pakistan is seeing a return of foreign investment, structural reforms implementation, and improvement in the overall fiscal and monetary situation.
While the country only attracted $2.4 billion as foreign direct investment in 2016-17, an amount that was 5% higher year-on-year, Iqbal’s statement seemed without context as he did not mention a timeframe for the $16-billion inflow.
Estimates, however, suggest the minister’s number includes the inflow related to the China-Pakistan Economic Corridor that is mostly not included in the official FDI figures released every month by the State Bank of Pakistan.
Meanwhile, Iqbal urged the participants on strengthening academia-industry linkages, which according to him, would support economic empowerment and rapid development in the country. He lauded the organisers of the conference and said that the government fully endorses IBCE and considers all the sponsors and exhibitors as government’s partners in the journey of national development and stability in the region.
More than 150 groups of companies and business firms representing 15 countries, 300 exhibitors, 4 top diplomats from Turkey, Cambodia and Nigeria, a dozen CEOs of multinational companies and more than 70 national companies registered for the IBCE.
The Ministry of Finance, Board of Investment, Government of Pakistan (BOI), Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), Board of Investment, Punjab Board of Investment & Trade, Pakistan (PBIT), Pakistan Engineering Council (PEC), Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and other public outlets participated in the event.
Parallel to the industrial expo, conference on business education was also held.
CPEC going smoothly despite challenges: Ahsan Iqbal
Turkish President’s Chief Advisor Ihsan Sener said that he was delighted to see foreign exhibitors in such a big number. He said Turkey had brotherly relations with Pakistan and it was supporting the country in a number of areas.
Nigeria Industries Minister Abdou Maman said that the solution of hunger, ignorance, and poverty lies in quality education, research and then doing business at the large scale.
Published in The Express Tribune, October 29th, 2017.