What exactly is going on here, many wish to ask.įoreign investment is welcome in Pakistan, but in most cases it comes under a policy framework that is transparently known, has been debated in cabinet at least, and with the terms available to all. Now we are hearing of a massive investment from Saudi Arabia to be made in an ‘oil city’ in Gwadar. No details have even been released about the terms on which these ‘deposits’ have come, whether on their tenure or return. Likewise, we are now hearing of another $3bn worth of ‘deposits’ to be made by the UAE, but once again, there is not a word about what is expected in return. Yet, not a word has been uttered about what has been promised in return. In addition, we have seen $2bn land in the State Bank as a ‘deposit’, following a visit to Saudi Arabia by the prime minister accompanied by a high-powered ministerial entourage, with promises of another billion to come soon, and a ‘deferred payment’ facility to underwrite a portion of the country’s oil imports. Read more: What do Pakistan and China want from CPEC going forward? The eighth Joint Cooperation Committee meeting on CPEC between Pakistani and Chinese government delegations was held in December, but to this day, there is very little known about the details of what the government of Pakistan has consented to do. AS things move along, the need for greater transparency and disclosure on what exactly the government is signing onto is growing.
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