MNCs to invest $30 billion in diverse sectors: advisor
ISLAMABAD (March 04 2008): The multinational companies have pledged 30 billion dollars for investment in Pakistan's energy and other diverse sectors. This was stated by Amar Lal, Advisor to Prime Minister on Minorities Affairs after a meeting with Canadian Ambassador and political representatives of Germany, Netherlands, Poland and Austria.
The multinational companies of these countries have shown interest to invest in mining of Thar coal project for 3,000 megawatt coal-based power plant, wind energy projects and gas turbines projects. In addition to that, investment would be made for laying gas pipeline and crude oil pipeline from Turkemanistan and Kazakistan, another project of Liquid Natural Gas (LNG) costing 10 Billion Dollars.
It was also discussed to set up three oil refineries, each to produce 100,000 barrels per day, 4 electricity power plants to produce 1000 megawatt electricity at Lahore, Faisalabad, Rohri and Jamshoro. The project to set up three oil refineries at Multan, Karachi and Sukkur was discussed in the meeting.
With mutual consultation, it was also decided to invest in upgrading the education, health and tourism training centres up to international standard to make a joint venture with local and international companies for creating one million jobs in the country and another one million abroad.
Housing schemes will also attract substantial investment as Canadian, American and Abu Dhabi companies have submitted proposals for new housing schemes to be launched on modern lines in the country, Amar Lal said. Those proposals, he said, have been submitted to the Prime Minister.
Business Recorder [Pakistan's First Financial Daily]