The Pakistani Stock Market is the worlds fastest growing stock market in 2008. In 2007 despite earthquakes and elections the Pakistani Stock Market reached records heights. Qatari, Muscat, Saudi, UAE, Arab, Chinese, Malaysian, and other Asian investment in Pakistan is increasing exponentially. Western investment is also expected to increase with the new aid package with the USA. The FTA with China, the new plans in energy, defense, train, pipelines will further enhance the pace of growth. With UAEs Emaar heavily entrenched in Pakistan homes (pun intended), it is investing $28 Billion in building two islands near Karachi. Additionally other Arab investments are coming to totally transform Manora and the Hawkesbay area into a “mini Dubai”. The FTA with Malaysia and Qatar will bring new benefits to Pakistan by opening up ASEAN, UAE and Arab markets. With the Iran Pakistan pipeline in the works, and the Tukmenistan Pakistan pipeline being planned, and the $7 Billion package from the USA, Pakistani exports will increase dramatically. Pakistan is also ready to export Al-Khalid tanks and JF-Thunder fighter jets to friendly countries which is a boom to the export industry and also to the 2nd and 3rd tier manufacturers in Pakistan. The Pakistani IT industry is expected to reach $11 Billion within a few years. This baseline will improve the track to make it into a robust industry. An FTA with the USA has not been approved, but Pakistan is working on the plans to convince the Americans on expanding the Reconstruction Opportunity Zones (ROZ) from the border areas, FATA to all of NWFP and Baluchistan.
Now the latest news from Qatar and Muscat informs us that another $8 Billion will be invested in Pakistan. The exponential affect of these huge investments will further expedite the growth of Pakistan’s indigenous entrepreneurs and have a trickle down effect on increasing the growth.
Qatar, Muscat to invest $8 bn in Pakistan Updated at: 2040 PST, Saturday, April 19, 2008
ISLAMABAD: Qatar will invest 5 billion dollars in Pakistan while Muscat 2.75 billion dollars in various projects in Balochistan.
This was stated by ambassadors of Qatar, Jordon and Muscat during their meeting here with Federal Minister for Finance, Revenue, Economic Affairs and Statistics, Senator Ishaq Dar.
Hamad Ali Al-Hanzab, Ambassador of Qatar said that Qatar would be investing in all US $ 5 billion in Pakistan.
He said that Qatar has launched Islamic Taqaful Insurance Company in Pakistan and hoped that more investment would be made in the financial sector to tap Pakistan’s investment potential for the mutual benefit of the two countries.
The two sides also agreed to convene the meeting of Joint Ministerial Commission at the mutually convenient dates.
Dr. Saleh Ahmed Aljawarneh, Ambassador of Jordan proposed convening of the meeting of the Joint Economic Ministerial Commission and the meeting of Joint Business Council to increase economic cooperation between the two countries.
He informed the Finance Minister that Free Trade Agreement (FTA) wasexpected to be signed in August between the two countries.
The two sides also reviewed the cooperation in the fields of agriculture and railways. Possibilities of Joint venture in manufacturing of phosphate fertilizer was also discussed.
The Ambassador of Muscat, Mohamed Said Mohamed Al-Lawati discussed role of Pak-Oman Investment Company in promotion of economic cooperation between the two countries.
He said Muscat by financing various projects has been instrumental in accelerating development in Balochistan.
It was also noted that Pak-Oman micro finance is playing a positive role in poverty alleviation in Pakistan.
The two sides agreed to accelerate implementation of various projects in Balochistan costing around US $ 27.5 million being financed through grant from Muscat.
The two sides also noted positive development of purchase of 65 percent shares by Pak-Oman Joint Investment company of World Call shares, its interest in telecommunication and power sector.
The Muscat Ambassador also expressed the interest to develop tourism in Balochistan.
Finance Minister, Senator Ishaq Dar assured the envoys of his full cooperation for promoting increased economic cooperation