Pakistan Seeks Foreign Investment With $8 Billion Wealth Fund
- Government adds its entire stakes in seven companies to fund
- Last year UAE showed interest to invest in Pakistan companies
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Pakistan has transferred its entire shareholding in seven companies to a $8 billion new sovereign wealth fund with the aim to offer the stakes to foreign investors and spur growth.
The government may conduct different transactions including sale of stakes or make investments through the fund, according to the bill approved by South Asian nation’s Senate - Parliament’s upper house - on Wednesday and available on its website. The National Assembly - Parliament’s lower house - has already approved the bill.