ISTANBUL, 1 December 2016: Under the leadership of Prime Minister Muhammad Nawaz Sharif, Pakistan’s economy has achieved stability and is steadily growing. It has attracted international investments in diverse fields. Federal Minister for Housing and Works Mr. Akram Khan Durrani said this while addressing the 7th Bosphorus Summit. The summit was hosted by International Cooperation Platform (ICP) and held under the auspices of the Presidency of the Turkish Republic on the theme of “A Better Future Through Cooperation” from 29 November to 1 December 2016 in Istanbul.
Addressing participants of the Summit, Akram Khan Durrani said Pakistan is blessed with immense resources. He said there is great potential for investment in Pakistan’s energy sector and shared that an estimated 60,000 MWs of electricity could be generated only from the hydel sources. He informed that Pakistan is the 2nd largest cotton yarn producer, the 4th largest milk producer, the 8th largest wheat producer, the 11th largest rice producer and the 9th largest meat producer in the world. We have the 9th largest shale oil deposits in the world and total onshore natural gas deposits are exceeding 150 trillion cubic feet, informed Minister Durrani. Above all, our population of 200 million people is a huge market for any global investor, he added.
Minister Durrani also spoke about China Pakistan Economic Corridor (CPEC) where Chinese and other companies are investing over $46 billion in various fields including energy and infrastructure. Referring to recent investments in Pakistan, he informed that a Dutch company has invested Euro 500 million in the dairy sector, a Turkish company has invested over US$ 250 million in the durable electrical goods sector and another Turkish company is committing to invest $300 million in a private sector LNG terminal. He asserted that all this is a vote of confidence in Pakistan’s better economic management.
Akram Khan Durrani also referred to reforms undertaken in Turkey under the leadership of President Erdogan and said our national goals to modernize our economies have much in common. The Governments of Pakistan and Turkey are striving to improve the investment climate, expand the domestic market, encourage innovation and develop export opportunities, he added.
Embassy of Pakistan