Kuwait Investment Authority Denies Investing In Pakistan, Terms Reports As Fake

Terming the report as fake, the KIA denied making any such investment while the authority has no connection with the representative who was quoted with the claim

Lahore (UrduPoint / Pakistan Point News – 19th May, 2019) The Press Office of Kuwait Ministry of Finance and Kuwait Investment Authority has denied making any investment in Pakistan.

The Kuwait Investment Authority (KIA) stated that reports of Kuwait making a $20 billion investment in Pakistan is unfounded and that it has no relation to the Mr Ahmed Edris, a KIA representative who was quoted making this claim in the report.

The authority was reported to be interested to invest in various sectors in Sindh mainly in infrastructure including roads network, energy, desalination, food security and fisheries under different investment modes that is, public-private partnership and independent power producers (IPP), build, operate and transfer (BOT), and build operate and own (BOO) basis.

The said representative of KIA had in a meeting offered that his authority was ready to construct a large number of houses in Sindh with a payment under very easy instalments; for example Rs 20,000 a month. This formula had proved very successful throughout the world, he had said.

Terming the report as fake, the KIA denied making any such investment while the authority has no connection with this representative.