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  1. #81
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    This is the kind of story that should really uplift all in Pakistan! If PTI has any role in this then well done to them


    For the latest updates on Cricket, follow @PakPassion on Twitter

  2. #82
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    Excellent news. Haters might still find a reason to hate.

  3. #83
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    The article doesn't mention investment by Microsoft but the Gates foundation which is not a business but a charity organizaiton.

    There is spending on the poor must be welcomed but it wont be business investment. If that is the case, it should not have much to do with PTI being the reason for it.


    The man on top of the mountain didn’t fall there — Vince Lombardi

  4. #84
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    Quote Originally Posted by cricketInsight View Post
    The article doesn't mention investment by Microsoft but the Gates foundation which is not a business but a charity organizaiton.

    There is spending on the poor must be welcomed but it wont be business investment. If that is the case, it should not have much to do with PTI being the reason for it.
    they do impact investing by the way read up abraaj capital and the bill and melinda healthcare fund


    عبدي أنت تريد ، وأنا أريد ، ولا يكون إلا ما أريد ، فإن سلمت لي فيما تريد كفيتك ما تريد

  5. #85
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    Quote Originally Posted by MenInG View Post
    This is the kind of story that should really uplift all in Pakistan! If PTI has any role in this then well done to them
    No they didnt, it was all done by NS and Maryam and Billo

  6. #86
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    There was a time in Pakistan when companies like Microsoft would directly hold recruitment events in Pakistani universities and take the best talents to work in their HQs. My two first cousins got hired this way from FAST and they have been working at Microsoft for the last 20-25 years rising to very high positions.


    Can you even think about such a thing happening now?


    Inshallah it will change for the better under the auspicious leadership of the great Khan. May the supporters of Noon and Pee keep burning.


    Mein inko rolaonga

  7. #87
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    Thank you Bill and Malinda. We'll take the charity. But if you want to do business with us, then chai paani kay baghair baat nai banaygi'.

  8. #88
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    funny how the thread turned political....


    "Life is Pain"
    ~House~

  9. #89
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    Quote Originally Posted by Major View Post
    funny how the thread turned political....
    Yeah because companies like Microsoft were falling over each other trying to invest in Pakistan when your favourite Zardari and his partner in crime Nawaz were in power.


    Mein inko rolaonga

  10. #90
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    Quote Originally Posted by Syed1 View Post
    Yeah because companies like Microsoft were falling over each other trying to invest in Pakistan when your favourite Zardari and his partner in crime Nawaz were in power.
    and im glad PPP didn't invest on economic growth.

    Pakistan was facing hyper inflation at that time, and during such economic situation, going for growth is not the correct tool to be used


    "Life is Pain"
    ~House~

  11. #91
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    This news has nothing to do with Microsoft. Bill Gates left MS in 2006. He maybe a significant share holder, but has no say (other than informal adviser) in how the company expands / invests in various markets. Microsoft is headed by Sataya Nadella. Bill & Melinda Gates foundation is a non profit working on many health & education related initiatives across 3rd world.

  12. #92
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    DUBAI: A record investment package being prepared by Saudi Arabia for Pakistan will likely provide welcome relief for its ‘cash-strapped’ brother country, while also addressing regional geopolitical challenges, analysts say.

    At the heart of the investment is a reported $10 billion refinery and oil complex in the strategic Gwadar port on the Arabian Sea, the ultimate destination for the massive multibillion-dollar China Pakistan Economic Corridor (CPEC), which lies not far from the Indo-Iranian port of Chabahar.

    Two Saudi sources have confirmed that heir apparent to the Gulf kingdom’s throne, Crown Prince Mohammed bin Salman, will visit Islamabad shortly, without giving a date.

    And a number of major investment deals are expected to be signed during a visit, officials from both countries have told AFP.

    Riyadh and Islamabad, decades-old allies, have been involved for months in talks to hammer out details of the deals in time for the high-profile visit.

    “The outcome of the talks so far has been very positive and this is going to be one of the biggest-ever Saudi investments in Pakistan,” a senior finance ministry official said.

    “We hope that an agreement to this effect will be signed during the upcoming visit of the Saudi crown prince to Pakistan,” said the official, requesting anonymity.

    The Wall Street Journal reported last month that both Saudi Arabia and the United Arab Emirates (UAE), Islamabad’s biggest trading partner in the Middle East, have offered Prime Minister Imran Khan some $30 billion in investment and loans.

    Riyadh investments are expected to provide a lifeline for Pakistan’s slumping economy which was downgraded in early February by S&P ratings agency from a B to a B-, Saudi economist Fadhl al Bouenain said.

    “Saudi investment to Pakistan comes within an economic aid package aimed at relieving the stress of external debt and a shortage of foreign currency, besides boosting the sluggish economy,” Bouenain said.

    The OPEC heavyweight also aims to achieve strategic and commercial goals with investments in infrastructure and refinery projects, he said.
    Saudi Arabia and its Gulf partner, the UAE, have already deposited $3 billion each in the State Bank of Pakistan (SBP) to help resolve a balance of payments crisis and shore up its declining rupee.

    ‘Saudi investment highlights trust in Pakistan’s economy’

    They have also reportedly deferred some $6 billion in oil imports payments as Islamabad has so far failed to secure fresh loans from the International Monetary Fund.

    PM Imran has already visited Riyadh twice since taking office in July and in October attended a prestigious investment conference widely boycotted by other political and economic figures after the murder of journalist Jamal Khashoggi.

    The premier also visited Saudi rivals Qatar and Turkey, as well as China seeking investments.

    “One of the goals for Saudi Arabia expanding investments in refining worldwide is to secure market share and sustainable exports in the face of international competition,” Bouenain said.

    Saudi Energy Minister Khalid al Falih visited Gwadar in January and inspected the site for the proposed oil refinery at the deep sea port, just 70 kilometres away from its Iranian competitor, Chabahar.

    He was quoted by local media as saying the kingdom was studying plans to construct a $10 billion refinery and petrochemicals complex in Gwadar.

    Like most oil suppliers, the world’s top crude exporter has been investing heavily in refinery and petrochemicals projects across the globe to secure long-term buyers of its oil.

    Saudi Arabia keen to invest in renewable energy in Pakistan

    A pipeline from Gwadar to China would cut the supply time from the current 40 days to just seven, experts say.

    Developed as part of China’s Belt and Road Initiative with investments worth some $60 billion, Gwadar is being billed as a regional industrial hub of the future, easily accessible for Central Asia, Afghanistan, the Middle East and Africa.

    “Pakistan needs a rich partner to enter as a third party besides China, capable of injecting needed cash,” Bouenain said.

    But so far China has rejected other partners for the corridor that seeks to connect its western province Xinjiang with Gwadar, including Saudi Arabia and UAE, said James M Dorsey, a senior fellow at Singapore’s S. Rajaratnam School of International Studies.

    This is despite calls by PM Imran “for the Chinese investments to be restructured to include agriculture and job-creation sectors and not only in infrastructure”, Dorsey said.

    Any Saudi investment in Gwadar will also have geopolitical dimensions, Dorsey said.

    Iran late last year inaugurated Chabahar which provides a key supply route to landlocked Afghanistan and allows India to bypass its historic enemy Pakistan.

    India has seen Chabahar as a key way both to send supplies to Afghanistan and to step up trade with Central Asia as well as Africa.

    But Riyadh is not expected to get involved in any Indo-Pakistani rivalry and the kingdom also has major strategic energy deals with New Delhi, where demand for oil is growing fast.

    Indeed in April, the Saudis signed a $44 billion deal to build a huge refinery and petrochemicals complex in western India.

    https://tribune.com.pk/story/1907349...-salman-visit/


    For the latest updates on Cricket, follow @PakPassion on Twitter

  13. #93
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    Hopefully this time their investment is not in sectarian violence.

  14. #94
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    Quote Originally Posted by Pakistanian View Post
    What Saudis doing in Yemen is condemnable but why do you care as an Indian? India has murdered over 90,000 Kashmiris.
    Kashmir is India's "internal affair" , we should not be questioning how many thousand Kashmiri they kill, but they have all the right to raise concern over Saudi brutalities in Yemen.

  15. #95
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    Hopefully Pakistan uses these investments smartly under IK .

  16. #96
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    Saudi Arabia has pledged investment deals worth $20bn (£15.5bn) with Pakistan

    Saudi Arabia has pledged investment deals worth $20bn (£15.5bn) with Pakistan which is seeking to bolster its fragile economy.

    It comes as part of a high-profile Asian tour by the kingdom's Crown Prince Mohammed bin Salman.

    Pakistan urgently needs to address a balance of payments crisis and is looking to international backers for support.

    The deals include an $8bn oil refinery in the key port city of Gwadar.

    The two sides signed several other provisional agreements and memorandums of understanding in the energy, petrochemicals and mining sectors, according to reports.

    "It's big for phase one, and definitely it will grow every month and every year, and it will be beneficial to both countries," the crown prince said.

    Pakistan is desperate for cash. The south Asian country's central bank has only $8bn left in foreign reserves and faces a balance of payments crisis.

    Prime Minister Imran Khan has been seeking help from friendly countries in order to cut the size of the bailout package his country is likely to need from the International Monetary Fund, under very strict conditions.

    The country is seeking its 13th bailout since the late 1980s and Saudi Arabia has already provided a $6bn loan.

    Charm offensive
    Pakistan is the first stop on an Asian tour by the crown prince, known as MBS. He is scheduled to be in India by Tuesday and will visit China on Thursday and Friday.

    The prince is seeking to recast his international image in the wake of the Jamal Khashoggi affair. The journalist was murdered at the Saudi consulate in Istanbul in October.

    Pakistan needs Saudi money to stave off a huge IMF bail-out - but this is not a one-way relationship
    Against this backdrop, the current tour can be seen as a charm offensive by MBS, who is seeking to bolster relationships with dependable allies as he doles out cash, says the BBC's Abid Hussain.

    While Pakistan stands to benefit from Saudi Arabia's largesse, the south Asian country is also important to the kingdom.

    The two countries have a long-standing military relationship and the MBS visit comes at a time when geopolitics in the region are shifting - including concerns over the influence of Iran.

    https://www.bbc.com/news/business-47274672


    For the latest updates on Cricket, follow @PakPassion on Twitter

  17. #97
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    Even if it's half whats promised- it will be a great start. Money coming in, creating high paid jobs and 1000's of support jobs. Well done IK and the PTI.

  18. #98
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    Great day in Pakistan history

    Aisi isolation sab ko milay


    #MPGA

  19. #99
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    sooner or later we will be fighting their wars
    Last edited by Zeeraq; 19th February 2019 at 20:38.


    "Life is Pain"
    ~House~

  20. #100
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    Quote Originally Posted by Major View Post




    sooner or later we will be fighting their wars
    Pakistan will only protect Saudia Arabia as a country and not fight its wars.


  21. #101
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    Quote Originally Posted by King-Misbah View Post
    Pakistan will only protect Saudia Arabia as a country and not fight its wars.
    Which is exactly what Imran Khan said in an interview with Al-Arabiya.

    But don't let that get in the way of bitter nooras and pppatwari upset that Imran Khan has done more for Pakistan in 6 months than their champions have done for their corrupt selves

    http://english.alarabiya.net/en/feat...ran-Khan.html#

    Al Arabiya: Back again to what you mentioned about the missiles and the military field, as Saudi crown prince is coming to Islamabad, will there be more, military-wise, relations or MoUs between Pakistan and Saudi Arabia?

    Imran Khan: Saudi Arabia, with Mecca and Medina there, I can assure you that- forget our military- the people of Pakistan would want to defend Saudi Arabia if anything happens to them. That you can rest assured. But you see for Pakistan, the role we want to play now is that we want to play the role of a country that brings other countries together.

    This whole division in the Muslim world, Muslims fighting Muslims. You just look back in the last 15 years, the devastation that has taken place in the Muslim world. The last thing we want is more conflicts. Pakistan wants to play the role, and Pakistan can play the role because Pakistan has probably one of the best militaries. We are a nuclear armed country, we have a military that just won us a very difficult war on terror where almost 70,000 Pakistanis lost their lives.

  22. #102
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    Quote Originally Posted by Major View Post




    sooner or later we will be fighting their wars
    This is not charity, this is investment: Saudi foreign minister
    [https://tribune.com.pk/story/1913033...eign-minister/

  23. #103
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    We need the investment but I’m wary of MBS especially his role of the journalist murder in Turkey.

    He’s no reformer for Saudi Arabia.

  24. #104
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    @Bewal Express @Syed1 nooras are upset. 2100 prisoners released but no NS.

  25. #105
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    Quote Originally Posted by DRsohail View Post
    @Bewal Express @Syed1 nooras are upset. 2100 prisoners released but no NS.
    I saw that, IK asking the Prince to humanely treat our workers and then we get an announcement that 2000 PK prisoners held for minor crimes released. Nooras have behaving disgustingly​ throughout the whole visit, and this shows that they are the enemies of PK. Btw Doc can 65 year old men have babies in PK? As the guy heading Medical commission for NS is a gynecologist?

  26. #106
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    Quote Originally Posted by 90MPH View Post
    We need the investment but I’m wary of MBS especially his role of the journalist murder in Turkey.

    He’s no reformer for Saudi Arabia.
    This is a very difficult issue because The rest of the world including the richest country in the world wants to be his best friend, can PK afford to be choosy?

  27. #107
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    Quote Originally Posted by 90MPH View Post
    We need the investment but I’m wary of MBS especially his role of the journalist murder in Turkey.

    He’s no reformer for Saudi Arabia.
    The journalist murder is a minor matter; the war in Yemen, willingness to give up Jerusalem (stopped only by the King), and arrest and potential execution of even moderate clerics and women activists are all much worse

  28. #108
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    Quote Originally Posted by Major View Post




    sooner or later we will be fighting their wars

    The Prince has launched a bid to buy Manchester United for £5 billion. It appears that Pakistan is worth three football clubs. Manchester United will play football for his pleasure while we will fight for his pleasure.

  29. #109
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    Quote Originally Posted by Mamoon View Post
    The Prince has launched a bid to buy Manchester United for £5 billion. It appears that Pakistan is worth three football clubs. Manchester United will play football for his pleasure while we will fight for his pleasure.
    Has he bought the whole of Pakistan? And let’s go by your dumb theory, what happened to China’s part?


    Ki Mohammad (saw) sey wafa tu ney tou hum terey hain
    Yeh jahaan cheez kya hai Loh-o-Qalam tere hain

  30. #110
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    Quote Originally Posted by IAJ View Post
    Has he bought the whole of Pakistan? And let’s go by your dumb theory, what happened to China’s part?
    The Chinese are obviously unhappy with this arrangement. Moreover, Pakistan has also opened a front with Iran now. A storm is brewing and the usual role of mercenaries will not help Pakistan. We must ensure that we will not fight Saudi's war, but I am not hopeful.

  31. #111
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    Quote Originally Posted by Mamoon View Post
    The Chinese are obviously unhappy with this arrangement. Moreover, Pakistan has also opened a front with Iran now. A storm is brewing and the usual role of mercenaries will not help Pakistan. We must ensure that we will not fight Saudi's war, but I am not hopeful.
    If Imran and his advisors play the cards smartly they can get deals from Iran as well. Pak need to look at it’s own interests first. Stay friend with all 3.


    Ki Mohammad (saw) sey wafa tu ney tou hum terey hain
    Yeh jahaan cheez kya hai Loh-o-Qalam tere hain

  32. #112
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    Quote Originally Posted by Mamoon View Post
    The Prince has launched a bid to buy Manchester United for £5 billion. It appears that Pakistan is worth three football clubs. Manchester United will play football for his pleasure while we will fight for his pleasure.
    Stick to medical doctor sahab politics and economics tum say nahi hogee. This is an FDI in a certain specific industrial sector which will benifit both nations it does not equal to buying a stake or share of that country unlike a football club investment where you hold ownership stakes in that club

  33. #113
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    Quote Originally Posted by Mamoon View Post
    The Chinese are obviously unhappy with this arrangement. Moreover, Pakistan has also opened a front with Iran now. A storm is brewing and the usual role of mercenaries will not help Pakistan. We must ensure that we will not fight Saudi's war, but I am not hopeful.
    It's seems that the only person more unhappy than anyone is you. From carping about the cost of the visit( which was paid for by the Saudis) to anything you can find, which is basically repeating Noora and Ind propoganda( enemies of PK on the same page). The plan of Nooras was always obvious to anyone with a brain cell- steal literally everything, borrow billions and then put PK at the mercy of other countries, and ultimately give up our Nuclear weapons.

  34. #114
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    Quote Originally Posted by IAJ View Post
    If Imran and his advisors play the cards smartly they can get deals from Iran as well. Pak need to look at it’s own interests first. Stay friend with all 3.
    Always said there is nothing to stop Iran or any other country from investing in Pakistan, if anything they would have more reason as they are actually much closer geographically than SA.


    I for one welcome our new In____ overlords - Kent Brockman

  35. #115
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    Quote Originally Posted by Mamoon View Post
    The Prince has launched a bid to buy Manchester United for £5 billion. It appears that Pakistan is worth three football clubs. Manchester United will play football for his pleasure while we will fight for his pleasure.
    Lol. Even your intel is wrong.
    The prince rejected the claim that he's buying man u.

  36. #116
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    Quote Originally Posted by Xoib View Post
    Stick to medical doctor sahab politics and economics tum say nahi hogee. This is an FDI in a certain specific industrial sector which will benifit both nations it does not equal to buying a stake or share of that country unlike a football club investment where you hold ownership stakes in that club
    Thank you for enlightening me. I was not aware of the difference between investing in a country and investing in a football club. I thought investing in a football club is called FDI, and when you invest in a country, you buy its shares.

  37. #117
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    Quote Originally Posted by a_tahir View Post
    Lol. Even your intel is wrong.
    The prince rejected the claim that he's buying man u.
    It is the usual business. If a deal does not materialise, they will simply state that they did not intend to buy. The Saudis are extremely arrogant and obnoxious.

    A prince that carries his gold toilet with him to other countries because using a regular toilet is beneath him is not going to accept that his bid was rejected. There is usually a lot of fire to such smoke, such news is not cooked out of thin air.

  38. #118
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    Quote Originally Posted by Mamoon View Post
    It is the usual business. If a deal does not materialise, they will simply state that they did not intend to buy. The Saudis are extremely arrogant and obnoxious.

    A prince that carries his gold toilet with him to other countries because using a regular toilet is beneath him is not going to accept that his bid was rejected. There is usually a lot of fire to such smoke, such news is not cooked out of thin air.
    Or there was no bid, and someone is trying to push up the price.

  39. #119
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    Ingenuity of Pakistan establishment is unparalleled

    They have the USA on their side inspite of all their curses and rants and Osama

    They have defeated the Russians in Afghanistan and now the Russians are selling them hardware.

    Inspite is being almost bankrupt , Saudi is bailing them out.

    China is firmly in their corner.

    India with all its mega economy and bigger army can’t do a **** due to nuclear deterrence.

    Pakistan approach has been consistent since last 30 years. Bleed India with low intensity conflict and non state actors / terrorists.

    On the other hand India has never been able to match Pakistan’s diplomacy. Nor has India been able to fan unrest in Pakistan due to “moral” reasons.

    From the time when Pak was almost declared a Terror state to again coming back to world center stage due to USA quitting Afghanistan , they have come a long way.

    India on the other hand has punched way way below its weight.

    I guess the only way India is ever gonna be able to get its mojo back is claiming its rightful share of Indus water which it hasn’t been doing all these years.

    Secondly, wait for China to take over assets in Pakistan due to unpayable debt.

    Edit : Not trolling here. Just saying a few facts as they seem. Also, am sure the people of Pak are as ****** with their govt as the Indians are.
    Something I found on another website . Some great points there


    you really can't beat the game. If you earn anything, it's minus taxes. If you buy anything it's plus taxes.

  40. #120
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    Quote Originally Posted by Mamoon View Post
    Thank you for enlightening me. I was not aware of the difference between investing in a country and investing in a football club. I thought investing in a football club is called FDI, and when you invest in a country, you buy its shares.
    You equating the two events suggested otherwise hence the need for this lesson

  41. #121
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    FDI - Foreign Direct Investment in Pakistan

    KARACHI: Pakistan’s ll major industrial sectors attracted considerably high foreign direct investments (FDI) during the current financial year indicating an attraction for industrial growth in near future.

    The country’s key industries such as textile, chemicals, pharmaceuticals, and electrical machinery saw their inflows jumping by 50-800 per cent.

    However, the overall FDI plunged by 51pc during the first nine months of 2018-19 mainly due to outflow of Chinese investments from the local power sector, which in turn eroded the positive impact on inflows in the major industries. Outflow of Chinese investment during the period was $294 million, as compared to net inflow of $929m in same months of last fiscal year.


    The highest inflows were recorded in electrical machinery, which attracted $126.6m during 9MFY19 as against $13.8m in corresponding period last year, reflecting an increase of 813pc.

    Transport sector came in second as inflows into the sector jumped by 663pc to $84.3m, led by FDI worth $89.6m in cars whereas buses, trucks, vans and trails posted a $5.3m outflow.

    Similarly, inflows in chemicals soared by 322pc to $113.9m during 9MFY19 versus $27.6m in same period of 207-18 while those in pharmaceutical rose 274pc to $55m from $14.7m.

    The FDI in textile sector clocked in at $54m during the nine-month period, up 50pc over $36.6m in corresponding months of FY18. The sector earns over 60pc of all export proceeds for the country.

    For the last couple of years, only two sectors – power and construction – have found themselves on the radar of investors while the rest have seen limited activity in terms of inflows. If latest data is to serve as an indicator for reversal, it could help boost sentiments in the local industry.

    Power sector saw a steep decline in FDI as it recorded a net outflow of $293m in 9MFY19 as against $929m in corresponding period last year. Construction also seems to be ceding its gains with inflows shrinking steeply as investment in the sector slowed down to $385.4m, from $527m.

    Communications saw a net outflow of $141m, led by telecommunications which recorded outflows worth $157m.

    Published in Dawn, April 21st, 2019

  42. #122
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    Makers sense that there are outflows from power sector to China as they are taking out cash dividends from their earlier investments.

    This would have happened regardless of who was in power because this is how the projects were drawn up.

    But ofcourse you will see jahil patwaris and jiyalas show their idiocy by pointing it out as evidence of the incumbent government’s bad performance

  43. #123
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    Quote Originally Posted by Slog View Post
    Makers sense that there are outflows from power sector to China as they are taking out cash dividends from their earlier investments.

    This would have happened regardless of who was in power because this is how the projects were drawn up.

    But ofcourse you will see jahil patwaris and jiyalas show their idiocy by pointing it out as evidence of the incumbent government’s bad performance
    The bad performance on the government is visible to anyone with 2 brain cells and a basic understanding of economic metrics. One does not need to prove anything.




    Sua cuique voluptas.

  44. #124
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    According to State Bank of Pakistan Data , total foreign investment in Pakistan has plunged from USD 4.95 billion in 9MFY18 to USD 0.87 billion in 9MFY19


    A substantial drop of 82%


    In March alone total foreign investments dropped by 11 % compared to March 18.




    Foreign direct investment has registered a drop of 51 % in first 9 months. This massive decline is due to capital outflow of USD 1.2 billion during this period which is 121 % increased compared to 2018.




    Kesay ker letay ho bhaee ?



    Heraan Hun Dil ko Rouoon K Peetun Jigar ko Mein : Ghalib


    Mujhay hai Hukm e Azaa-n

  45. #125
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    W
    Quote Originally Posted by TalentSpotterPk View Post
    According to State Bank of Pakistan Data , total foreign investment in Pakistan has plunged from USD 4.95 billion in 9MFY18 to USD 0.87 billion in 9MFY19


    A substantial drop of 82%


    In March alone total foreign investments dropped by 11 % compared to March 18.




    Foreign direct investment has registered a drop of 51 % in first 9 months. This massive decline is due to capital outflow of USD 1.2 billion during this period which is 121 % increased compared to 2018.




    Kesay ker letay ho bhaee ?



    Heraan Hun Dil ko Rouoon K Peetun Jigar ko Mein : Ghalib
    Yes that’s covered. The power sector see outflows. When you give guaranteed profits in dollars to get power operators outside Pakistan, they usually like to get their returns.
    Sir, a little more economics and finance and a little less bankruptcy

  46. #126
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    Quote Originally Posted by uberkoen View Post
    The bad performance on the government is visible to anyone with 2 brain cells and a basic understanding of economic metrics. One does not need to prove anything.
    Talking about the OP here.

    I guess my last sentence of the earlier post you quoted holds true.

    Current government is not responsible for idiots from the previous one negotiating guaranteed dollar returns on expensive projects


    #MPGA

  47. #127
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    Imran Khan Welcomes Investment From Hong Kong-based Port Operator

    Prime Minister Imran Khan on Tuesday welcomed a $240 million foreign investment from Hong Kong-based port operator Hutchison Port Holdings, the Prime Minister's Office said in a statement.

    A delegation of Hutchison Port Holdings led by their Group Managing Director Eric Ip called on the prime minister at his office today.


    Ip apprised the prime minister of the company's fresh investment into Pakistan approximating $240m that will make available a significant amount of new container terminal capacity at the Karachi Port.

    The funding increases Hutchison Ports’ total investment in Pakistan to $1 billion.

    While welcoming the investment from the port operator, Prime Minister Imran reiterated his government's commitment to facilitate investment and ease of doing business in the country.

    The premier was informed that the fresh investment will grow Hutchison employees to 3,000 people.

    According to the statement, Prime Minister Imran was also briefed about the development of Hutchison Port Holdings, its parent company CK Hutchison Holdings, and the group’s commitment to play a pivotal role in facilitating economic growth of Pakistan, as well as supporting the development of Karachi Port into a major hub for trade in Asia.

    During the meeting, Ambassador at Large for Foreign Investment Ali Jehangir Siddiqui stated that as a result of a fairly priced currency, unit volumes of exports were increasing and there was a need for additional container terminal capacity. As a result, this investment will support the country's export competitiveness and result in greater revenue for both the federal exchequer and the Karachi Port Trust.

    Hutchison Port Holdings is one of the world’s largest port companies. With over 30,000 employees, it is operating 52 ports and terminals in 27 countries spanning Asia, the Middle East, Africa, Europe, the Americas and Australia. The company is headquartered in Hong Kong.

    Minister for Maritime Affairs Syed Ali Haider Zaidi, Adviser to Prime Minister on Commerce Abdul Razzaq Dawood, Special Assistant to Prime Minister Syed Zulfiqar Abbas Bukhari, Board of Investment Chairman Zubair Haider Gilani and senior officials attended the meeting.

    The delegation from Hutchison Ports included Managing Director Middle East and Africa Andy Tsoi, Business Director Middle East and Africa Eric Ng and the leadership of their Pakistan management team.
    Link: https://www.dawn.com/news/1510994/pm...-port-operator.


    Bangladeshi Fan

  48. #128
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    That is pretty hefty investment. Hope happens soon and not just on paper.


    For the latest updates on Cricket, follow @PakPassion on Twitter

  49. #129
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    Mashallah! More great news for Pakistan!

    Pakistan on the up inshallah!

  50. #130
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    Companies will want to invest in Pakistan now. It was rightly difficult to trust the previous corrupt leaders who didn't care for the economy or for security. Imran is working hard to make both stronger for investors.


    Lions don't lose sleep over the opinions of Sheep

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    I am sure good times are ahead. Inshallah.


    PP's own self proclaimed sharpshooter and defender of Islam and Pakistan.

  52. #132
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    ISLAMABAD: The Central Development Working Party (CDWP) of the Planning Commission on Thursday approved nine projects worth Rs40 billion in energy and science and technology sectors. It also recommended two mega projects worth Rs55.5bn to Ecnec for approval.

    The projects approved in the energy sector include a regional grid in Gilgit-Baltistan (Phase-1) worth Rs4959.187 million, 220Kv Nawabshah sub-station project worth Rs6291.80m, 220Kv Larkana new substations worth Rs6449.40m, procurement of 220Kv mobile grid station along with emergency recovery system and 500Kv reactors for emergency services project worth Rs6978.95m and 220Kv Swabi substation project worth Rs6399.84m.

    The approved projects in the science and technology sector include the Pakistan Research Reactor-3 project worth Rs4671.050m and establishment of a campus of National University of Technology (NUTECH) in Islamabad worth Rs2878.610m.

    The CDWP recommended for approval three health projects which include strengthening and upgradation of the nursing and midwifery worth Rs27908.545m, safe blood transfusion service worth Rs863.367m and Medical Device Development Centre at the National University of Science and Technology (NUST), Islamabad, worth Rs331.12m.

    A project related to water resources development titled, “National Programme for Enhancing Command area in Barani areas of Pakistan” worth Rs27526.369m was recommended to Ecnec for approval.
    Source: https://www.dawn.com/news/1511496/pr...s40bn-approved.


    Bangladeshi Fan

  53. #133
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    Foreign private investment jumps 51pc

    KARACHI: Foreign private investment increased by 51 per cent to $564.8 million in the first quarter of this fiscal year, up from $374m in same period of 2018.

    Meanwhile, foreign direct investment (FDI) edged lower by 3.1pc to $542.1m during July-Sept, as compared to $559.4m in same quarter last year.

    However, FDI in September clocked in at $385.3m, surging by 111.6pc over $182.1m in corresponding month last year.

    If the September trend persists for the remaining fiscal year, the country could receive record high investment it received during the last five years but it depends upon the business environment and low cost of doing business.

    Data reveals that the most significant chunk came from Norway, even beating China which has been the largest investor in the country for the last three years.

    FDI from Norway stood at $263.7m, soaring by a whopping 1,600pc, over just $15.5m in the same quarter of FY19. Of this, $253.2m were invested in September.

    On the other hand, inflows from China plunged 70.4pc to $103m during July-September versus $348m in corresponding months last year.

    Prime Minister Imran Khan recently visited China to speed up the working on projects under the China-Pakistan Economic Corridor.

    Sector-wise investment indicates that telecommunications attracted highest amount of $246.4 million during the quarter. This represented a massive growth of 389.6pc over $54m recorded in July-September FY19.

    Inflows in the oil and gas exploration, on the flip side, dipped by 54pc to $34.1m during the first quarter, compared to $74.1m in same period last fiscal year.

    The sector is at the top of government’s priority list for attracting investments but the response during the latest quarter is disappointing.

    The attraction for hydel power also declined as the investment fell to $27.3m, from $36m. Inflows in cars didn’t show much difference as they came in at $25.8m, down from $29.5m.

    However, a big jump was noted in electrical machinery as it received $64.8m during the quarter, rising from 1QFY19 level of just $5.2m.

    A major change was noted in portfolio investment which had been showing outflows for most of the time but in the latest quarter posted a net inflow at $22.7m, as opposed to a net outflow of $185.3m in corresponding months last year.

    https://www.dawn.com/news/1511499/fo...ent-jumps-51pc

  54. #134
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    Imran Khan seems like a great negotiator. He has secured quite a few huge investments. Good signs.


    Bangladeshi Fan

  55. #135
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    ISLAMABAD: Prime Minister Imran Khan on Saturday said that his economic team has turned around the national economy within a period of one year, especially referring to a sharp decline in the current account deficit and an increase in investments.

    The premier in a series of tweets shared some data-graphs showing performance of foreign direct investment, exports and remittances besides a sharp decline in the current account deficit.

    Mr Khan said that a 111.5pc increase was recorded in the foreign direct investment and a 194pc increase in foreign private investment during the past one year. The massive increase in investments was a reflection of the trust of foreign investors in the government’s economic policies, he added.

    The prime minister said that the current account deficit was on a 41-month low in September 2019, indicating that the economy was on the mend. Between July-September, the first quarter of the current fiscal year, the current account deficit declined by a huge 64pc to $1.5bn from $4.3bn over the last year. It was mainly led by a 21pc decline in imports.

    Pakistan had witnessed the biggest current account deficit at $18.25 billion before the Pakistan Tehreek-i-Insaf had taken over the government. He went on to say that remittances from overseas Pakistanis showed a 17.6 per cent increase in remittances during last month.

    The fiscal deficit — the difference between revenues and expenditures of the federal government — declined by 36 per cent in the first quarter of the ongoing fiscal year as revenue increased and expenditure cuts took root.

    PM Khan’s economic team led by Adviser on Finance Dr Hafeez Shaikh — currently visiting Washington to attend the annual meetings of International Monetary Fund/World Bank-2019 — held a series of meetings with heads of various global financial institutions and business leaders to apprise them of the overall state of economy in Pakistan.

    The focus of these meetings, according to an official statement, is to focus on government’s measures to curtail the twin deficits and revive various sectors of the economy through institutional reforms and collaboration with regional and international investment partners.

    State Bank Governor Dr Reza Baqir and Finance Secretary Naveed Kamran held an extensive meeting with Asian Deve*lopment Bank (ADB) president Takehiko Nakao and exchanged views with him on the ongoing ADB-funded projects in Pakistan as well as planned portfolio.

    The finance adviser apprised the ADB president about the steps taken by the government for curtailing the current and capital account deficits effectively. In his remarks, ADB President Nakao said that ADB was an important financial partner of Pakistan and acknowledged the current structural reforms undertaken towards economic stabilisation in Pakistan.

    Dr Shaikh also met World Bank’s South Asian Region (SAR) Vice President Hartwig Schafer and his team. The meeting reviewed WB’s portfolio in Pakistan and exchanged views on further steps to strengthen cooperation between Pakistan and the Bank.

    Later, the finance adviser along with a delegation met IMF’s Middle East and Central Asia Department (MCD) Director Jihad Azour. They discussed the implementation of the ongoing IMF programme. The IMF director appreciated the progress Pakistan made towards economic stabilisation as well as government commitment to the reform process.

    Essential commodities

    Meanwhile, Special Assistant to the PM on Information Dr Firdous Ashiq Awan told the media that the Prime Minister had directed the federal ministries and provincial governments to take measures to bring down the prices of wheat, sugar, cooking oil, fruit and vegetables to provide relief to public.

    She said the direction came from the premier during the three-hour meeting with the chief ministers of Punjab and Khyber Pakhtunkhwa, chief secretaries, ministers of food, agriculture, statistics, commerce and industry and cane commissioners. Mr Khan asked them to adopt a comprehensive strategy on ways to reduce prices of essential commodities, she added.

    Dr Awan said the Sindh province had failed to ensure timely procurement of wheat flour, which resulted in depletion of stock and rise in its prices. To control the situation, PM Khan asked Pakistan Agricultural Services and Storage Corporation (PASSCO) to release 100,000 million tonnes of wheat for Sindh to fill the gap in supply and demand. She said the PM also directed the Economic Coordination Committee to come up with a comprehensive strategy and recommendations within three days on release of stock of wheat and cut in prices.

    Besides, she hinted at the possibility of importing wheat in case of lower stock of the commodity to keep the prices under stable.

    Extending support to farmers, the adviser said sugar cane farmers received payment as per support price of Rs180 per 40 kilograms. The prime minister, according to her, showed displeasure over the rise in sugar prices and asked for taking action against profiteers and hoarders.

    Mr Khan suggested to the Punjab and KP chief ministers to establish farmers’ markets to bring an end to the role of middlemen, she told the media. He also directed the Federal Board of Revenue to rationalise regulatory duty on cooking oil, she added. The adviser linked the price hike of tomatoes and onions with the blockage of imports from India and said new crops in Pakistan would improve the situation.
    Source: https://www.dawn.com/news/1511892/pm...mic-turnaround.


    Bangladeshi Fan

  56. #136
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    ISLAMABAD: The United Arab Emirates (UAE) has offered to Pakistan access to its labour market database, which would help boost export of Pakistani workforce to the Gulf state.

    According to a press release, the offer was extended by UAE Minister of Human Resources and Emiratisation (Mohre) Nasser Bin Thani Al Hameli during a meeting with Special Assistant to the Prime Minister on Overseas Pakistan and Human Resource Development Sayed Zulfikar Abbas Bukhari on the sidelines of the 5th ministerial session of Abu Dubai Dialogue.

    The initiative would provide Pakistan updated information of job opportunities in the UAE’s labour market, besides enabling it to train the workforce as per market demand.

    Mr Bukhari informed his counterpart that Pakistan wanted to integrate a digital platform with the UAE to ensure a fair and transparent recruitment process, besides minimising its cost. The country was ready to link its digital platform with the UAE, he added.

    Both sides also agreed to activate the joint committee formed for implementation of the memorandum of understanding recently signed to ensure the protection of Pakistani workers’ rights and resolving their legal job disputes in the UAE.

    It was also decided to prepare a three-year plan for recruitment of Pakistani workforce.

    Mr Bukhari said that the Pakistan Tehreek-i-Insaf (PTI) government stood by its promise of providing respectable jobs to the youth on local and international level, adding that the country’s economy was moving in the right direction under the leadership of Prime Minister Imran Khan.

    He said the government had been taking practical measures to create job opportunities for the youth within the country and abroad. The export of manpower witnessed 51 per cent increase during the first seven months of the PTI government, he added.
    Source: https://www.dawn.com/news/1511887/ua...arket-database.


    Bangladeshi Fan

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