Sindh to Pitch Karachi as Investment Destination to Investors From Gulf Countries

The Sindh government will pitch Karachi as an investment destination to investors from different gulf countries, Sindh Chief Minister Murad Ali Shah Wednesday said during the post-budget press conference. While talking to the media, he said that the Kuwait Investment Authority spent $1 billion monthly on global projects and the government was hoping to secure a share of this investment for Karachi. He told the media that the government was going to hold an investment conference in Kuwait in August 2022 to attract Gulf investors to Karachi. The chief minister further added that the city needed massive investment and the government was trying its best to bring international donors and investors to Pakistan. Regarding the investment in the city, the provincial government has also reached out to the World Bank and the Asian Development Bank. He clarified that the government was planning to attract investment for the city instead of borrowing loans. Shah pointed out that the agricultural sector was facing a liquidity crunch due to higher prices of diesel, seeds, fertilizer, and pesticides. Therefore, the government had allocated a huge share for the agriculture sector for the next year, he added. In addition, a subsidy has also been arranged for fertilizers and pesticides to aid farmers. The chief minister mentioned that the establishment of a $130 million agriculture scheme in the province was underway by the World Bank.