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UK-Pakistan chamber to invest £200m

Updated April 15, 2019

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The UKPCCI will invest in operating a PIA aircraft, the Naya Pakistan Housing Project and other segments in the real estate and textile sectors. ─ Reuters/File
The UKPCCI will invest in operating a PIA aircraft, the Naya Pakistan Housing Project and other segments in the real estate and textile sectors. ─ Reuters/File

LAHORE: The UK-Pakistan Chamber of Commerce and Industry (UKPCCI) on Sunday announced to invest £200m in Pakistan under which it would operate an aircraft of the Pakistan International Airlines (PIA) under the public-private partnership.

It would invest £140m in the government’s Naya Pakistan Housing Project and other segments of real estate while paying attention to the textile sector also.

The announcement was made by UKPCCI President Amjad Khan and Secretary Mian Wahidur Rehman at a news conference at the Lahore Press Club on Sunday.

They said the selected areas for investment, included the PIA, housing, education and health, tourist destinations in Gilgit-Baltistan and Khyber Pakhtunkhwa, halal food restaurants chain, a food processing plant in Malir, Karachi, and Sialkot’s surgical and sports goods. They said the chamber’s director, Syed Siraj Ahmad, would provide free-of-cost software to improve the PIA management. Under the initial negotiations, the administrative matters of the PIA plane, which the chamber wanted to operate, would rest with it and the PIA would handle its operations.

Published in Dawn, April 15th, 2019