Pak seeks $55 bn investment in various sectors

Karachi: Pakistan is believed to have requested the Friends of Pakistan for as much as $55 billion investment in a host of projects in various sectors.

Pakistan has sought funding for projects worth about $55 billion in sectors such as infrastructure, energy, agriculture and services from the members of Friends of Pakistan Group at a meeting held in Abu Dhabi.

Quoting a senior Pakistan finance ministry official who, according to the newspaper, requested anonymity, the projects Pakistan has offered for investment include construction of dams, electric power generation plants, roads, highways, agriculture development, privatisation of state-owned industries and investment into social and services sectors.

The official was also quoted as saying that the group would present responses on Pakistan's request from their respective governments in the next meeting to be held in Islamabad in the third week of February. Friends of Pakistan group have agreed to a roadmap or a work plan with a resolve to enabling Pakistan overcome its present financial crisis.

The experts meeting, which was jointly chaired by the UAE and Pakistan, also overwhelmingly offered complete support to Pakistan in providing financial resources, investments, technical assistance and technology to help better its economy. Delegates from Australia, Canada, Britain, US, China, Saudi Arabia, Turkey, European Union, European Commission, UN, Japan, Germany attended the meeting.