Several friendly Arab nations, including Saudi Arabia, the United Arab Emirates (UAE), and Qatar, have expressed interest in investing in Pakistan’s state-owned enterprises, with a focus on secure deposit rollovers.
Media reports quoting sources from the Ministry of Finance revealed that the UAE is particularly interested in investing in the lucrative oil, gas, and energy distribution sectors. Both Qatar and the UAE have shown keen interest in Pakistan’s airports and ports, highlighting a diverse investment strategy.
Saudi Arabia, according to ministry sources, aims to invest heavily in the oil and gas sector, electricity, and the financial sector. Specifically, these Arab countries are eyeing investments in Pakistan State Oil (PSO), Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and various Distribution Companies (DISCOs).
The sources emphasized that these countries are willing to invest beyond secure deposits, provided the valuations of these state-owned enterprises are high. This move comes as part of the current law governing the sale of government companies to friendly nations.
The government is carefully evaluating these offers, ensuring that the strategic interests of Pakistan are upheld. The discussions are taking place at the highest levels, considering the significant financial aid of $8 billion already provided by these Arab nations.
In line with the ongoing negotiations with the International Monetary Fund (IMF), Pakistan is being urged to defer the repayment of safe deposits from these friendly countries for three years. This deferment is seen as a critical measure to stabilize Pakistan’s economy and facilitate smoother investment processes.
