KARACHI: Expatriates to invest $500m in city projects
By Our Staff Reporter
KARACHI, Dec 19: A Saudi Arabia-based Pakistani group of businessmen has shown willingness to invest US$500 million in different projects of the city during a meeting with acting city nazim Nasreen Jalil on Tuesday.
The president and general secretary of Pakistan Investors Forum, Khalid M. Chaudhary and Shamshad Ali Siddiqi, called on the acting city nazim at her office and invited her to Riaz to lure overseas Pakistani investors.
They informed her that Pakistani investors living in Saudi Arabia had invested US$900 million there and now they wanted to invest their capital in the uplift projects of the metropolis.
She informed them that the government was taking measures to safeguard interests of foreign investors.
Mrs Jalil said that 169 offices of different overseas investment companies had been opened in the city. She also invited the delegation to participate in “Our Karachi” platinum jubilee celebrations of the old KMC Building.
