- Saudi Arabia’s funding in IT, power and banking will form Pakistan’s economic system
Interview with Mr. Muhammad Shahid — Chairman, Lahore Department Council of ICMA Worldwide
Muhammad Shahid, FCMA, is working as Senior Officer Accounts in SNGPL. He’s a seasoned skilled with many years of expertise. He’s additionally Chairman Lahore Department Council of ICMA Worldwide.
PAGE: How would you touch upon the bilateral relationship between Pakistan and Saudi Arabia?
Muhammad Shahid: It’s crucial bilateral relationship with Saudi Arabia, not just for human useful resource of Pakistan but in addition for the procurement of oil, which Pakistan is availing on credit score. Over two million Pakistanis are serving in Saudi Arabia which finally ramps up the international change reserves of Pakistan by remittances which Pakistan desperately wants at current.
PAGE: What’s your standpoint on the Saudi funding in power, IT, banking and mining sectors in Pakistan?
Muhammad Shahid: Overseas Funding is spine of any nation and Pakistan in a lot want of funding. Saudi direct funding in IT, power and banking will substantiate the financial situation of Pakistan however Pakistan must see the contracts are viable in future for nation.
PAGE: Meals safety has grow to be a perennial stumbling block for the complete world. How might Pakistan profit from Saudi funding in agriculture sector?
Muhammad Shahid: Initially we have to see how they need to spend money on agriculture sector. Both they need to spend money on value-added merchandise or to develop merchandise. In the event that they need to spend money on land cultivating then they need to buy the land in Pakistan. Pakistan ought to see the land promoting to different nation is not going to breach the sovereignty of the nation.
PAGE: What’s your tackle Saudi deposits in SBP to shore up international change reserves?
Muhammad Shahid: Saudi deposit is just to spice up the reserves and Pakistan is paying big curiosity on these deposits. It’s only seeing to save lots of Pakistan from default, though this sediment has nothing to do for Pakistan.