Federal Minister for Funding and Board of Funding (BOI) Chairman Qaiser Ahmed Sheikh. PHOTO: FILE
KARACHI:
China has signed new funding agreements price billions of {dollars} with Pakistan and is about to speculate as much as $10 billion within the close to future, Pakistan’s Federal Minister for Funding Qaiser Ahmed Sheikh mentioned on Thursday.
In an unique interview, Sheikh mentioned world consideration was more and more centered on Pakistan, with expectations of broad-based overseas funding within the coming years. He added that new three way partnership agreements price $1.5 billion have been finalised between the governments of Pakistan and China.
As well as, China has signed memorandums of understanding (MoUs) price about $9 billion in Pakistan’s agriculture, automotive, and minerals sectors, signalling a renewed push for large-scale cooperation throughout key industries.
Sheikh mentioned a serious Pakistani commerce delegation comprising round 300 enterprise leaders lately visited China to draw additional funding.
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He added that the federal government plans to attach the Reko Diq mining undertaking to Karachi through Chagai with a particular railway observe and a brand new freeway to facilitate transport and commerce. Round $7 million can be secured from worldwide monetary establishments for the event of this financial hall.
The minister additionally famous that following the success of Bunyan-un-Marsoos, world demand for Pakistan’s fighter plane has elevated, with a number of nations anticipated to put orders.
Sheikh mentioned the biggest share of overseas direct funding in Pakistan is predicted to circulate into the agriculture and mining sectors.
