News

Pakistan among top 5 countries with highest investment commitments: World Bank

A new World Bank report sheds light on the boost in investment activity within the Pakistani ecosystem. Entitled Private Participation in Infrastructure (PPI) 2020 Half Year Report, the report highlights Pakistan as one of the top five countries in the world with the most investment commitments in the first half of 2020.

According to the World Bank report, Pakistan had the fourth-highest investment commitments during H1 2020, with a total worth of $1.9 billion that accounts for 0.69 percent of its GDP. Not only is this an encouraging indicator of positive investment activity in the country, it is also the first time Pakistan has made it into the top five in this particular category.

This accomplishment can largely be attributed to the financial closure of the Thar Block-1 Coal-Fired Power Plant, which was the only project to be completed during the first half of 2020.

The coal power project was developed under the umbrella of the China-Pakistan Economic Corridor (CPEC). It is part of an effort by the Government of Pakistan to improve energy security and reduce the average cost of power generation by transitioning from oil to coal,” stated the report.

The following table sums up the countries with the most investment commitments in H1 2020:

The South Asian region as a whole saw the second-highest investment activity in H1 2020, largely driven by Pakistan ($1.9 billion), India ($1.8 billion), and Bangladesh ($1.2 billion). The report suggests that China has been quite active as a sponsor of infrastructure and developmental projects in the region, particularly in Pakistan and Bangladesh.

With the exception of Pakistan, Bangladesh, Ivory Coast, and Thailand, most of the private investments in energy were made in renewable energy projects. For Pakistan in particular, this was mainly because of the massive coal project. According to the report, the World Bank expects this trend of coal investments to continue for a while.

This trend is expected to continue because the Government of Pakistan is trying to improve energy security and reduce the average cost of power generation by switching from oil to coal,” the report stated.

Sponsored
Hamza Zakir

Platonist. Humanist. Unusually edgy sometimes.

Share
Published by
Hamza Zakir

Recent Posts

‘Pak Hajj’ Mobile App Launched to Assist Pilgrims

A new app called "Pak Hajj" has been released by the Ministry of Religious Affairs…

7 hours ago

Federal Govt Announces Holiday for Schools Amid PTI Protests

ISLAMABAD: The district administration has declared a school holiday for tomorrow in the Federal Capital…

7 hours ago

WhatsApp Faces Restrictions in Pakistan, Confirms NetBlocks

NetBlocks, a renowned global organization monitoring internet activity, has reported that WhatsApp has been blocked…

7 hours ago

PTI Urges Elon Musk for Starlink to Address Internet Connectivity in Pakistan

The Pakistan Tehreek-e-Insaf (PTI) has publicly appealed to Elon Musk to introduce Starlink internet services…

12 hours ago

PTA Set to Initiate Second Phase of Crackdown on Unregistered VPNs

ISLAMABAD: The Pakistan Telecommunication Authority (PTA) has reportedly started testing a new national firewall to…

13 hours ago

13.6% Fall in Pakistan’s Mobile Imports in FY25’s Early Period

During the first four months of the current fiscal year 2024-25, the government imported mobile…

14 hours ago