Pakistan makes joint investment offer to Beijing and Riyadh

Pakistan makes joint investment offer to Beijing and Riyadh

Jeddah, Nov 20 (IANS) Pakistan’s Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, said on Sunday that Pakistan has made a joint investment offer to China and Saudi Arabia based on the China-Pakistan Economic Corridor, according to a media report.

On behalf of Pakistan, the minister also expressed the wish to establish CPEC-style economic cooperation with Saudi Arabia, The News reported.

Speaking during a meeting with the Pakistani community at the Consulate General of Pakistan in Jeddah, Iqbal said: “We want to establish CPEC-style economic cooperation with Saudi Arabia as well. Based on CPEC, a joint investment offer has been made to China and Saudi Arabia.”

Ahsan also rejected rumours regarding Pakistan going towards a default and said: “News regarding the country defaulting are not true.”

A day earlier, Finance Minister Ishaq Dar had also refuted all rumours related to the oil shortage and widening credit default swap, labelling them as “baseless speculation” being spread for a political agenda.

“There is no truth in the lies PTI has spread. [The government] saved the country from defaulting in six months,” he had said, The News reported.

Ahsan had slammed the PTI for putting Pakistan’s economy at risk during its tenure and said that the government reinitiated CPEC after the previous ruling party messed it up.

The minister added that Pakistan’s economy was at stake due to the previous government’s poor policies. The incumbent government improved the state of economy by adhering to the International Monetary Fund’s (IMF) policies.

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