Qatari and Pakistani investors should ‘exploit’ the various investment opportunities and the bilateral potential between the two countries, Pakistan’s Minister for Commerce Khurram Dastgir Khan has said.
“There is great potential for investment in energy infrastructure, tourism, and information technology (IT), and a great interest in agro food processing in Pakistan,” the minister told reporters yesterday on the sidelines of his visit to Qatar.
He said that Pakistan has made “very good progress” in overcoming its energy crisis, and invested with its partner (China) in this sector by putting up electricity generation projects.
According to Dastgir, some of these projects have already started and Pakistan expects to add 10,000MW to its grid next spring season, enough to overcome shortages.
“Pakistan now is poised to grow and begin realising the potential of its 200mn people.”
The minister met with Qatar’s Minister of Economy and Commerce HE Sheikh Ahmed bin Jassim bin Mohamed al-Thani, and spoke to officials and members of Qatar Chamber. He was joined by a delegation of 26 Pakistani businessmen, including agro food processors and rice exporters, among others.
Dastgir cited Pakistan’s “tremendous potential” in agro food processing, a rapidly expanding industry.
Dastgir noted that Pakistan is also willing to host sectoral delegations of Qatari investors interested in food processing, for example.
The minister said he invited Sheikh Ahmed to come to Pakistan with a delegation and inaugurate an exhibition, scheduled for the end of October.
Dastgir also highlighted Pakistan’s booming IT sector, which he claimed has “grown many fold” with more than 40mn broadband subscribers, and a “tremendous pool” of English speaking IT graduates.
“We have seen the beginning of e-Commerce in Pakistan. There is great potential for investment in IT also,” he added.
Pakistan, he noted, has been encouraging its companies to invest in Qatar as well.
The Minister said he also received a positive response from his counterpart in resolving some visa issues, especially in securing business visas.
Dastgir’s visit aims to follow up on the visit made by HH the Emir Sheikh Tamim bin Hamad al-Thani in 2015 and Pakistan Prime Minister Nawaz Sharif’s visit to Doha in 2016.
The Pakistani Minister noted a $50mn drop in rice exports to Qatar last year, from $78mn in the previous years to $20mn in 2016.
“I think there is an issue of fair opportunity to Pakistani rice exporters also, because in the last tender that was issued by the Central Tribunal Committee here in Qatar, it specifically mentioned Indian,” he said.
“That was not fair. I raised this issue as well. I said we are not seeking a quota, we are seeking a fair chance at bidding for these contracts and the Minister was very kind and he actually brought up the issue himself, he is aware of it, and we expect to resolve it this year,” Dastgir stressed.
Pakistan’s Minister for Commerce Khurram Dastgir Khan.
