Islamabad: Plans are in place to bring in foreign direct investment (FDI) worth USD 25 billion during the next five years, according to Board of Investment (BOI) Chairman Haroon Sharif.
He said that Pakistan would also sign investment agreements worth USD 40 billion with friendly countries in the same period. To procure land for such huge investments, a ‘clean land bank’ is being established.
He informed that overseas investors have hailed the federal government’s decision to set up the institution – which will facilitate the construction of hotels countywide.
The BOI chief said that Pakistan is currently expecting a Saudi investment of up to USD 12 billion in different sectors, including finance, power, renewable energy, internal security, media & culture, and sports.
He further stated that two RLNG plants will be sold to the Gulf kingdom for approximately USD 4 billion. A privatisation process to this effect will be completed by June 19.
