Further $100 Miln EU Investments To Come In Petroleum Sector
ISLAMABAD, (UrduPoint / Pakistan Point News - 25th Aug, 2019 ) :Spokesman of Prime Minister for Trade and Investment for United Kingdom (UK) and Europe Sahibzada Amir Jahangir on Sunday said that around $ 100 million new investment were expected to come in petroleum sector.
He said that recently a high level delegation of world largest private sector Oil company 'VITOL' headed by senior director Chris Bake including their two senior board directors had visited accompanied by to Pakistan for negation with local authorities on further plan of action.
He informed that VOTOL group's senior director Chris Bake had immense appreciation for the PM for tackling the corruption and lifting the damaged economy.
He assured the PM that Vitol has always shown interest in the development of Pakistan and has plans to invest in future in Pakistan on oil related projects such as Oil Storage and other infrastructure.
He said that Successful meetings were conducted with the ministers of Petroleum, Energy, and Finance and with Chairman of Board of Investment (BOI).
PM spokesman said that last month, he had accompanied with the known Australian Investor and philanthropist Andrew Forrest, to meet the Prime Minster, Imran Khan and other relevant government official for bringing investment in Copper and Gold Mining.
Forrest emphasized in the meeting that though his lawyers had cautioned him from making any commitments but he wish to be placed on record that he would generously assist and help Pakistan in the three fields.
Assist financially in eradicating Polio and would next month bring his own young son and will take him to the borders and inject polio medicine before the public in order to remove apprehension about Polio medicine.
Secondly his charity Minderoo established in 1878 will financially help in the childcare and lastly in the coming months Forrest will invest massively in Water Treatment Plants which will provide clean drinking water to the people.
He said there was only need to project these resources before foreign investors to convince them to invest in Pakistan.
The spokesperson said that over 3.5 million Pakistanis were living in Europe and were sending $12 billion annually in shape of foreign remittances to the country. He said over 8.5 million overseas Pakistanis were living all over the world and they were sending over $ 20 billion remittances to the country annually.
Amir Jahangir said that Pakistan economy was improving due to positive indicators, like current account deficit was at lower level and foreign remittances were increasing.
The spokesperson said the PTI government had to take unpopular decisions to sustain national economy in its first year, adding there was need to improve governance system of the country and performance of every ministry was being monitored in that regard.