PM Khan seeks investment at ‘Davos in the desert’

Pakistani Prime Minister Imran Khan, right, seen during the opening ceremony of the Future Investment Initiative (FII) conference in Riyadh on Oct. 23, 2018. (AFP)

• Promises to create a conducive environment for doing business in Pakistan
• Addresses Islamabad’s economic issues at key conference in Riyadh

ISLAMABAD: Acknowledging the fact that Pakistan was going through a severe economic crisis, Prime Minister Imran Khan on Tuesday invited attendees at a key investment conference in Riyadh to invest in the country and reap benefits.
Highlighting investment opportunities — specifically in the tourism and mining sectors — PM Khan, along with his key cabinet ministers, talked about the issues plaguing his government at the Future Investment Initiative (FII) conference, also known as “Davos in the desert”.
According to Pakistan’s state-run radio, PM Khan said that his government had inherited a huge burden of current account and fiscal deficits and was working on different fronts to resolve the financial crunch.
He told the conference that his government was approaching the International Monetary Fund (IMF) and friendly countries to seek loans and plug the financial gap.
“The government is also endeavoring to reform our institutions to check the menace of corruption in mega development projects and white collar crimes,” Radio Pakistan said quoting the prime minister.
He also assured participants at the conference that his government would create an environment that was conducive for doing business in the country, to attract foreign entities — particularly overseas Pakistanis — to invest in various projects in the country.
Earlier on Tuesday, Pakistan’s Federal Minister for Information Chaudhry Fawad Hussain, who is part of the delegation accompanying PM Khan on his visit, tweeted that the amount of respect that is accorded to PM Khan by the Kingdom shows how much importance is being given to the premier by the Muslim community.
As part of his two-day visit to Saudi Arabia, PM Khan began his trip from Madinah, following which he traveled to Riyadh to participate in the FII conference.
PM Khan and his coterie of officials arrived in Madinah on Monday night where they were received by Governor Faisal bin Salman bin Abdulaziz Al Saud. The group prayed together at the Prophet’s Mosque in Madinah before heading to Riyadh to attend the conference.
Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umar, Adviser to the Prime Minister on Commerce Abdur Razak Dawood and several other officials are part of the delegation accompanying the prime minister.
As part of his visit, PM Khan is also expected to call upon King Salman and Crown Prince Muhammad Bin Salman.