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Malaysian company ready to invest $250m in Pakistan
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Malaysian company ready to invest $250m in Pakistan

Agency News

Islamabad, Feb 2 : A Mala­ysia-based company has pledged to make $250 million investment in the telecommunication sector in Pakistan during next five years.

Malaysia’s Edotco Group chairman of the board of directors, Datuk Azzat Kamaluddin, made this commitment during a meeting with Prime Minister Imran Khan along with a delegation at Prime Minister Office (PMO) on Friday, said a Dawn report.

According to the media cell of the PMO, Mr Kamaluddin told the prime minister that the Edotco Group, with the existing investment of $100m in Pakistan, planned to further increase its investment in tower infrastructure in the telecommunication sector. “The group plans to add an investment of $250m in next five years,” he said.

The delegation included Nik Ramlah Nik Mehmood, the board member, Suresh Narain Singh Sidhu, CEO, and Arif Hussain, country MD. High Commissioner of Malaysia Ikram Mohammad Ibrahim also attended the meeting.

The Edotco Group chief appreciated the vision of Prime Minister Khan and the policies being pursued by his government which have restored confidence of the investors. He said that the Edotco Group wanted to become a partner in the Digital Pakistan Programme.

The prime minister, welcoming the delegation, said that all possible facilitation would be provided to the group in expansion of its business ventures in Pakistan. He highlighted various steps being taken by the government to improve ease of doing business and ensure investor-friendly environment in the country.

In a separate meeting Zhang Chun, chairman, board of directors, China Machinery Engineering Corporation, and Huang Daoyuan, head of Huan DR Group, called on Prime Minister Khan.

Mr Zhang briefed the prime minister on various projects his company has undertaken in Pakistan in the past, most notably in the energy sector. He also spoke about the progress of work on 1263MW power plant in Jhang which is near completion.

Mr Zhangand expressed keen interest in making investments in the Naya Pakistan Housing Programme and agriculture sector. Meanwhile, the federal government has asked the provinces to furnish proposals aimed at revival of crippling agriculture sector and getting better yield of crops.

The proposals were sought at meeting on agriculture and food processing chaired by the prime minister. He urged the provincial governments to send proposals based on their problems in a week to boost up agriculture production in the country.

Interestingly, after passage of 18th Amendment in 2010, like many other subjects, agriculture has also become a provincial subject and does not come under the domain of the federal government. However, international agreements with other countries are made at the federal government’s level.

The prime minister also urged the provinces to help increase export of agricultural products to generate more revenue. “The provincial governments must point out the hurdles and impediments coming in the way of export of agricultural products,” he said.

Prime Minister Khan was told that China was ready to provide technical support while some countries in the Middle East had agreed to extend financial support for revival of agriculture sector.

“The provinces should also give proposals how Pakistan can take advantage of technical support from China and financial support from Middle East countries,” the prime minister said.

He said during his recent visit to China, Chinese authorities had assured him of their technical assistance to Pakistan in agriculture sector so that Pakistan could enhance its agricultural production by working on modern lines.

It has been learnt that China is conducting research on Pakistani wheat, with the focus on yield increase through hybrid technology or other means.

Prime Minister Khan held another meeting with members of the National Assembly from Kohat and Dera Ismail Khan and vowed to solve basic problems confronting the people of the two cities.

During the meeting, the MNAs apprised the prime minister about problems of their respective areas. The prime minister said brining real “change” in the life of people of the country was included in the priorities in the Pakistan Tehreek-i-Insaf manifesto.

“The government will further enhance its plans in Khyber Pakhtunkwa to bring real change and provide better health, education and other facilities to the people,” he added.

The prime minister stressed the need for improvement in tourism sector and said: “KP has a big potential of tourism which can help stable the country’s economy.” He ordered for devising plans for provision of drinking water to the people of Karak and Dera Ismail Khan.(UNI)