Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal announced $27 billion investment in Mega Projects in Pakistan under SIFC. The SIFC has emerged as a crucial platform to attract substantial foreign investments in Mega Projects in Pakistan. Saudi Arabia, the UAE, Kuwait, and Azerbaijan have pledged $5 billion, $10 billion each, and $2 billion respectively.
“This initiative is driven by the vision of Prime Minister Shehbaz Sharif, who prioritizes investment over loans from friendly nations,” Ahsan Iqbal stated during a press conference in Lahore. The minister highlighted that the investments, particularly in Mega Projects in Pakistan, are expected within the next two to four years as the government is currently preparing project feasibilities.
Ahsan Iqbal emphasized that Pakistan is seeking trade, not loans, from China and Saudi Arabia, with these countries historically supporting Pakistan unconditionally. Talks with the IMF are ongoing, and an agreement is expected soon, further facilitating the progress of Mega Projects in Pakistan.
During the press conference, Ahsan Iqbal also addressed the energy crisis, assuring that it would be resolved within a year, which is critical for the success of Mega Projects in Pakistan. He further mentioned that inflation would be brought down to single digits by the end of the year, creating a stable economic environment for these projects.
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Ahsan Iqbal urged opposition parties, particularly Jamaat-e-Islami, to cooperate with the government and share any economic recovery plans they may have. “This is not the time for chaos but for constructive efforts to ensure the success of Mega Projects in Pakistan,” he said.
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In a separate media talk, Ahsan Iqbal criticized Imran Khan’s complaints about jail facilities, contrasting them with the hardships faced by PML-N leaders during Khan’s tenure. He highlighted the need for stability and unity to ensure the smooth execution of Mega Projects in Pakistan.
