PM Imran Khan addresses investment conference in Riyadh

PM Imran Khan addresses investment conference in Riyadh

Riyadh (Agencies): Prime Minister Imran Khan has said that Pakistan is hoping to get loans from the friendly countries as well as the International Monetary Fund (IMF) to meet the current financing gap.

The PM said this during the question answer session at the three-day Future Investment Initiative Conference which began in Riyadh on Tuesday.

Imran Khan said that Pakistan’s government is negotiating with the IMF and the friendly governments for this purpose.

"After being in power for 60 days, the immediate concern for our government is to increase our exports so we can bolster our foreign exchange reserves." , PM Imran said.

The PM warned that the next three to six months will be difficult for Pakistan’s economy as the institutions were destroyed by corrupt people in top.

Imran Khan vowed that his government is taking measures to increase exports.

"Pakistan's strength is overseas Pakistanis and we have to make conditions favourable for them to invest in the country," the PM said.

He said the government needs Pakistanis to send remittances through banking channels. "We need to clamp down on money laundering", he asserted.

The prime minister announced that his team is working to create a favourable environment for investment in the country and his government will introduce a one-window operation for it.

Speaking about his Naya Pakistan Housing Programme, Imran Khan said that there is a need for ten million houses in Pakistan and we have embarked on a programme to build five million houses in the initial phase.

"Pakistan is a country with great potential and is one of the most diverse countries in the world," he said. "We have one of the biggest copper reserves," he upheld. He announced that this is the best time for investors to come to Pakistan.

The PM further said that Pakistan wants to give incentives to people in energy sector. Imran Khan maintained that "Pakistan’s biggest resource are its people below the age of 30.

Earlier in the morning, the PM arrived in Riyadh this morning on the second leg of his visit to the Kingdom after his overnight stay in Madina Munawara where he along with his delegation paid respects at Roza-e-Rasool (SAW) and offered Nawafils, praying for the peace and prosperity of Pakistan and the entire Muslim Ummah.

Governor of Riyadh Faisal Bin Bandar bin Abdulaziz, Pakistan's Ambassador to Saudi Arabia Khan Husham bin Siddique and other officials received the prime minister on his arrival.

The PM is attending the investment conference on the special invitation of Saudi King Salman Bin Abdel Aziz. The conference termed as “Davos in the desert” will host leading businesspersons, investors, corporate giants, representatives of hi-tech industry and major media outlets at one platform.

Prime Minister Imran Khan's participation in the conference is aimed at projecting Pakistan's economic and investment potential as well as the vision of the country in the five years to come. It will also provide an opportunity to interact with important business leaders who are interested to invest in Pakistan.

During his stay in the Kingdom, the prime minister will also call on King Salman Bin Abdel Aziz and meet Crown Prince Muhammad Bin Salman. Matters of mutual interest will be discussed.

Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umar, Information Minister Chaudhry Fawad Hussain, PM’s Adviser on Commerce Abdul Razzaq Daud and Chairman Investment Board Haroon Sharif are also accompanying the PM.

In a tweet, Minister for Information and Broadcasting Fawad Chaudhry said that Prime Minister Imran Khan will also attend a question answer session in the investment conference.

Fawad said that the prime minister will also hold meetings with King Salman Bin Abdel Aziz and Crown Prince Muhammad Bin Salman and Saudi ministers.

Meetings with international investors are also part of prime minister's engagements, he added.