Foton Motors ensures 100% technology-transfer to Pakistan, $1.3 bln investment expected: PM

MG News | December 07, 2018 at 12:11 PM GMT+05:00

0:00

December 07, 2018 (MLN): Prime Minister Imran Khan addressed the Federal cabinet meeting on Thursday, during which he gave credit to the Economic Ministry, Finance Ministry and Planning Ministry for their exceptional performance in uplifting the economy amidst such difficult circumstances of the country.

Giving details on the investments that are due to take place in the country, he said that Foton Motor Group be investing $400 million now and $900 million in the future.

‘Foton Motors will set up a school in Pakistan to train locals in the art of technology’, he added.

He also confirmed that Suzuki will be investing $450 million in the country, whereas Coca-Cola and PepsiCo will be investing $500 million and $400 million respectively.

‘If the situation had been as bad in the country as the opponents had predicted, these companies wouldn’t have decided to invest so much in Pakistan’, he said.

Talking about the ExxonMobil Group, he said that the biggest gas drilling company of the world which has finally returned to Pakistan after 27 years, will be investing nearly $200 million into the country.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	163,304.13 424.61M	-0.78% -1286.28
ALLSHR	99,380.97 1,038.42M	-0.94% -946.44
KSE30	49,842.51 138.16M	-0.73% -367.30
KMI30	238,104.17 78.33M	-0.14% -327.97
KMIALLSHR	65,590.95 485.77M	-0.66% -435.42
BKTi	45,705.29 72.87M	-2.08% -972.73
OGTi	32,671.23 13.00M	-0.23% -74.93

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	110,990.00	0.00 0.00	250.00 0.23%
BRENT CRUDE	65.69	66.78 65.41	-0.30 -0.45%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.05 -1.29%
ROTTERDAM COAL MONTHLY	92.60	0.00 0.00	0.10 0.11%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	61.44	0.00 0.00	-0.06 -0.10%
SUGAR #11 WORLD	14.97	15.34 14.93	-0.32 -2.09%