Muhammad Ishaq Dar, the Federal Minster for Finance announced the establishment of the Pakistan Sovereign Wealth Fund on Tuesday.
Addressing the Pakistan Minerals Summit themed, Dust to Development: Investment Opportunities in Pakistan, he said that the funds aims to harness the potential of mining, agriculture and information technology. He said that these sectors would be the primary focused for the growth, irrespective of the any government in Pakistan.
The minister assured the investors that the government was taking all possible measures to facilities their initiatives. The draft for the establishment of the Sovereign Wealth Fund, keeping in view the international standards has been presented to the National Assembly.
This kind of fund has been established by the governments of Egypt and Indonesia which have been facing the situation like Pakistan. Ishaq Dar said that the investors should capitalize the mineral sector of the? country the value of which is more than $6 trillion.
He announced the creation of sub-funds under the main fund,?covering areas like agriculture, green revolution, mineral and mining. The government has established a Special Investment Facilitation Committee.
The federal minister for finance emphasised the importance of the charter of economy and said that it was possible to transform the idea into reality and take the country towards development. He confidently told that the bad time had gone and Pakistan had entered into the phase of stability.
Minister for Planning Planning, Ahsan Iqbal said on the occasion that consistent policies are of vital importance for the countries for seeking the attraction of the investors. A number of projects under CPEC have been completed so far worth around