Saudi Arabia will invest up to billion in Pakistan over the next two to five years in various sectors caretaker Prime Minister Anwaarul Haq Kakar said on Monday . Kakar speaking to journalists at his official residence said Saudi Arabias investment would come in the mining agriculture and information technology sectors .
The country is embarking on a tricky path to economic recovery under a caretaker government after a bn loan programme approved by the International Monetary Fund IMF in July averted a sovereign debt default . If confirmed a series of investments worth bn would be the biggest ever by the kingdom in Pakistan .
Pakistan is dealing with a balance of payments crisis and requires billions of dollars in foreign exchange to finance its trade deficit and repay its international debts in the current financial year . The prime minister also said his government would push to complete two privatisation deals probably for staterun power sector entities in the next six months and would also look to privatise another governmentowned enterprise outside the energy sector .
Pakistan’s stateowned enterprises have long been an area of concern with bleeding financials adding to financial stress . The privatisation process has largely stalled in the country’s state owned by the countrys stateowned industries has long been a major concern with blundered financials added to its financial stress.
The stateowned stateowned assets have been added to the privatisation list again. Recently Pakistan added struggling Pakistan International Airlines to the Privatisation list to privatisation lists again. The privatisations have been in the privatization list again to privatised list.
The government has added struggling staterundisis . The state owned state. Pakistan has recently added struggling state. The Privatization process has been the privatisations.
