A mega investment programme has been planned by the Kuwait Investment Authority (KIA) for Pakistan. Initially, KIA is planning to invest $20 billion in the country.
KIA representative Dr Ahmad Idrees was talking to the Sindh Minister for Works, Services and Irrigation Syed Nasir Hussain Shah in a meeting in which he stressed that the investment authority wants to invest in different sectors in Sindh including infrastructure, energy and desalination.
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He said, “KIA desires to invest under different modes ie public-private partnership, independent power producer (IPP), build, operate and transfer (BOT) basis and build operate and own (BOO) basis.”
Adding, “The mode of investment will depend on the viability of projects.”
Recalling Kuwait’s investment in Pakistan since 1960, he said that they collaborated with different companies including Meezan Bank, Careem and Pak-Kuwait Investment Company.
He said, “Now, it is the second phase of major investment.”
Furthermore, Idrees said that KIA also signed a memorandum of understanding with the Balochistan government. The MoU was to set up a 500-megawatt power plant.
A three-member coordination committee led by Special Assistant to Chief Minister Ashfaq Memon was set up to strengthen the investment program and streamline the project.
The representative of KIA disclosed that Kuwait is focused on food security and wants to extend financial help to projects related to food security.
Adding, “Hence, agricultural and livestock projects including food preservation can be included.”