Economics
Ending Pakistan Blackouts Key to Unlocking $5 Billion Inflow
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Pakistan is targeting a fourfold jump in foreign direct investments betting that new power plants coming online will end energy shortages that have stalled inflows into the nation, according to an aide to Prime Minister Nawaz Sharif.
The government forecasts investments will jump to $5 billion in the year starting July 1, 2017, from $1.28 billion in the last fiscal year, said Miftah Ismail, who is also chairman of the nation’s Board of Investment. Direct foreign investment levels have remained flat in the past three years since Sharif took a $6.6 billion of loan from the International Monetary Fund to avert a balance-of-payments crisis.