ISLAMABAD: Federal Minister for Investment Waqar Ahmed Khan told Arab News in an exclusive interview recently that after Ramadan he would be leading a “high-powered delegation to the Kingdom consisting of private and public sector representatives to explore further avenues for joint investment in different industrial and agriculture sectors.”
Khan also said his country is devoted to attending all future international shows in Jeddah and throughout the Kingdom.
The minister also announced that Pakistan would appoint “honorary commercial counselors” from the Saudi business community to attract Saudi investment.
It has been observed that you have been running from pillar to post for multinationals’ investment in Pakistan. You have sought investment from China, but in the Middle East you are only seeking to promote trade, commerce and investment while ignoring the real giant of the region: Saudi Arabia. May I presume your government’s policies have removed the existing warmth in Pakistan-Saudi relations?
Your question is perhaps not totally correct. President Asif Ali Zardari, even before taking over highest office, paid his first visit to the Kingdom and held a meeting with the Custodian of the Two Holy Mosques King Abdullah. Our prime minister paid an official visit and during meetings we decided to make very frequent contacts with Saudi authorities, not only on bilateral trade and commerce relations but also for regional peace and security. Pakistan must play its due role within the framework of the OIC. Pakistan and the Kingdom are two major players for the unity of the Muslim Ummah.
Do you think after what the previous government did to HUBCO any other Saudi Arabian private sector company will invest in Pakistan?
I agree with you that HUBCO — the main supplier of electricity to the commercial capital of Pakistan, Karachi — was victimized but not by the PPP government. If you recall HUBCO was established during the second government of Benazir Bhutto. HUBCO is now setting up another plant in Punjab, which will provide 250MW of electricity to Pakistan. We are seeking more investment on an official and private basis. I was briefed that the Saudi companies are interested in farmlands in Pakistan.
What incentives will you be carrying to the Kingdom?
We have at the Economic Coordination Committee level meeting selected manufacturing, agro-based industries, banking, shipping and several other sectors where we would like to have joint ventures with the Kingdom. I have already asked the Foreign Office and our Embassy in Riyadh to make necessary arrangements.
