LAHORE: Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal announced that four countries have committed $27 billion for investment in Pakistan through the Special Investment Facilitation Council (SIFC).
In a press conference in Lahore on Saturday, Iqbal detailed the investments: Saudi Arabia has allocated $5 billion, while the UAE and Kuwait have each committed $10 billion, and Azerbaijan has pledged $2 billion. He attributed this investment framework to the vision of Prime Minister Shehbaz Sharif, who aims to attract investments from friendly nations rather than relying on loans.
Iqbal indicated that the investments are expected to materialize over the next two to four years as the government prepares feasibility studies for various projects. He emphasized that Pakistan seeks trade partnerships rather than loans from China and Saudi Arabia, highlighting their long-standing support.
Addressing the economic revival, Iqbal urged any party with an economic recovery plan to share it with the government. He assured that the energy crisis would be managed within a year and that inflation would be reduced to single digits by year-end.
He also called for investigations into irregularities in the Engineers Council elections and expressed plans for a comprehensive five-year economic plan by Prime Minister Shehbaz Sharif to tackle issues such as energy shortages and tax evasion.
Iqbal stressed the need for stability and peace for progress, urging traders to contribute through taxes, criticizing tax evasion and emphasizing the importance of avoiding strikes and protests.
In a separate media statement, Iqbal criticized Imran Khan for complaining about jail conditions, contrasting his current treatment with the hardships he endured while imprisoned under Khan’s government. He lamented that during Khan’s tenure, he and other opposition leaders were denied basic legal rights, while Khan enjoys various privileges. Iqbal stated that the current government is not seeking revenge but focuses on addressing national challenges.
