Initiative of Abu Dhabi group, Malik Riaz lauded
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45 billion US dollar deal could prove to be a turning point
Historical investment to boost up economy, send positive message
Wealthy businessmen asked to follow suit by putting stalled projects in motion
The Pakistan Economy Watch (PEW) on Sunday lauded the initiative of real estate magnate Malik Riaz and Abu Dhabi group to invest USD 45 billion in Pakistan which would be the biggest investment in country’s history having potential to transform Pakistan.
Implementation of the landmark agreement signed by undeterred local and foreign businessmen will not only propel economy and reduce unemployemnt but send much needed very positive signals across, it said.
Investment for various construction projects including the world’s tallest building will help boost allied industries and push positive sentiments among wealthy businessmen shy of investment and keeping money to the chest, said Dr. Murtaza Mughal, President PEW.
The deal may encourage foreign investors to revisit perception about Pakistan while it can push many local investors to bring back their funds stashed in foreign banks to invest in Pakistan which would be a great service.
The estimate that the projects will employee more than 2.5 million people and will boost more than 55 industries are highly encouraging in these distressed times, it could be a turning point, he added.
Dr. Murtaza Mughal said that equal representation of all the social classes of the society will have a revolutionary impact on country’s social fabric, economy and tourism.
He said that despite all political and financial controversies, Malik Riaz of Bahria Town enjoys a reputation in the global real estate sector which must be pushed up with the completion of the project according to the claims and expectations and well before time.
Sheikh Nahyan bin Mubarak Al Nahyan; Chairman Abu-Dhabi group deserves all the praise and support as he is the man behind such a huge foreign investment that has never been made before, he observed.
Plan to utilize seawater to produce electricity for the project and converting seawater into drinking water for consumption of people are moves seen by many as revolutionary. Dr. Mughal said that work on the landmark project should be started as soon as possible.
