UAE firm to invest $15mln

ISLAMABAD: Adviser to PM on Commerce and Investment, Abdul Razak Dawood on Thursday informed that Brothers Gas, a United Arab Emirates (UAE) energy group, has announced investment worth $15 million in Faisalabad special economic zones (SEZ).

“I am pleased to share that Brothers Gas UAE has announced investment worth $15M in Faisalabad SEZ,” Abdul Razak Dawood shared via his official Twitter handle.

Appreciating role of the Board of Investment (BOI) in investor facilitation, Dawood informed that the company will invest in three phases and the first include installation of an Aerosol Propellant Gas (APG) plant.

“The plant will also enable manufacturing of refrigerant gasses and ADNOC lubes for the first time.”

He said the actualization of foreign investments is showing of a conducive business environment which is supported by friendly government policies.

Meanwhile, the advisor also appreciated Krave Mart (e-commerce store) startup for securing Pakistan's highest $6 million in pre-seed funding. Pakistan needs more young entrepreneurs and local brands, he said.