Global Investment Consortium to invest billions in Pakistan
Global Investment Consortium (GIC) intends to invest up to €50 billion in Pakistan. GIC investment will be focused to China-Pakistan economic Corridor (CPEC). Keeping in view the World Bank report that expects Pakistan may fall in recession this financing window opens door for a stable economic condition.
The news sources said this investment is expected to make on public-private partnership basis in various mega projects like Naya Pakistan Housing Scheme, Reko Diq copper & gold project & Diamer-Bhasha dam power project. GIC Regional Associate Muhammad Irfan Ali expressed his view. He said that we are successful in convincing hedge funds to consider investing in government projects of Pakistan. Since, GIC has not discussed it with any government official. But it has been given green light.
This investment is speculated to last for 25 year with 1.5% per annum rate. It will convert debt in to equity further reducing countries debt.
News Source: Tribune