Govt focusing on infrastructure projects, economic reforms: PM

Dutch company announces to make $100m investment in Pakistan; Karachi-Hyderabad Motorway to open tomorrow

ISLAMABAD: Prime Minister Nawaz Sharif has said that the government is working on various infrastructure, energy and communication projects and bringing economic reforms.

The prime minister said the strategic location of Pakistan makes it a market with a potential to become Asia’s premier trade, energy and transport corridor. He expressed these views here Wednesday while talking to Royal Friesland Campina (Netherlands) CEO Roelof Joosten and Engro Corporation Chairman Hussain Dawood at the Prime Minister’s House.

The Dutch company has recently bought a majority stake in Engro Foods. The prime minister said 60 percent of the country’s population is less than 30 years of age comprising a labour force of highly skilled professionals.

 He said the government has recently extended subsidy on fertiliser to facilitate the farmers. He said laws have been promulgated for special economic zones to meet global challenges of competitiveness and also to attract foreign direct investment (FDI).

“We are lucky to have a land with four seasons, abundant rich natural resources, extensive irrigation network, favourable climate, year round crop production, trained work force and a vibrant economic outlook,” he said.

The prime minister said his government has focused on economic reforms to increase investors’ confidence.  Roelof A Joosten said, “We invested in Pakistan because Central Asia is very important for our business strategy and Pakistan offered us the opportunity to invest in the region. The reason for us to invest in Pakistan is that we see a big change from loose milk to packed milk. We also see an increase in the dispensable income of middle class which is rapidly increasing while urbanisation is also on the rise in the country. We feel that high quality of dairy products is required to meet the growing demand in the country.”

He further said, “There is a growing need for high quality dairy products in Pakistan. That is why we are bringing in our technology, capabilities and our experiences to develop these products for Pakistani market by working together with the farmer community of Pakistan.”

The CEO further said that they have a plan to make Pakistan dairy products exporting country in the coming few years. He added that Pakistan is becoming an investment destination due to improved security environment, rapidly expanding quality infrastructure and marked reduction in energy shortages. He said that they are planning to bring in an additional $100 million investment to Pakistan in next couple of years. 

Minister for Finance Ishaq Dar was also present during the meeting. Meanwhile, the Prime Minister House said the state-of-the-art completed section of Karachi-Hyderabad Motorway (M-9) will be opened for the commuters tomorrow (Friday).

Prime Minister Nawaz Sharif will inaugurate the project that was started in September 2015. The 75 kilometres completed section of M-9 will provide link to various areas with it including Keer Thar National Park, Jhmpeer, Kinjhar Jheel and Thano Ahmed Khan through interchanges. It is having four interchanges including Dada Bhoy Interchange, Industrial Valley Interchange, Nooriabad Interchange and Thano Bola Khan Interchange.

In addition, five bridges while two Trauma Centres at Nooriabad and Damba Goth have also been completed. The 136km Karachi-Hyderabad Motorway project was commenced on 17th September, 2015 which is expected to be completed by March 17, 2018 at a cost Rs36 billion. The construction on 120km has started including interchanges, five bridges, 197km service road and plantation on 40 kilometres.