Islamabad: Minister for Planning and Development Ahsan Iqbal announced that Pakistan is poised to receive significant foreign investments totaling $27 billion over the next five years from allied countries. This investment pledge comes as part of the government’s broader agenda to implement socio-economic and judicial reforms aimed at accelerating the country’s economic development.
According to Ministry of Information and Broadcasting, Minister Iqbal, in his televised remarks, outlined contributions from several countries, with Saudi Arabia committing to invest $5 billion, the UAE and Kuwait pledging $10 billion each, and Azerbaijan contributing $2 billion. He emphasized that these investments represent external opportunities that Pakistan must seize by ensuring policy continuity and enacting necessary reforms.
The minister also highlighted China’s renewed commitment to the China-Pakistan Economic Corridor (CPEC), including the initiation of five new development corridors focused on growth, livelihood, innovation, green economy, and open regional inclusive development. Additionally, a Danish company plans to invest $2 billion in Pakistan’s port infrastructure, demonstrating growing international confidence in Pakistan’s market.
However, Minister Iqbal expressed concerns about domestic political challenges, particularly criticizing the PTI’s disruptive tactics, which he claimed are hindering potential investments and previously tried to obstruct an IMF deal. He underscored the need for judicial reforms to create a more favorable environment for foreign investment.
Reflecting on the economic improvements under the current administration, Iqbal noted that the Pakistan Stock Exchange has reached a historic high of eighty thousand points, signaling strong investor confidence. He also pointed out the positive adjustments in Pakistan’s credit rating by international agencies and a decrease in inflation to single digits. The recent reduction in the policy rate by the State Bank of Pakistan was also mentioned as a factor that will further stimulate business activities in the country.