Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood on Thursday informed that United Arab Emirates (UAE) energy group,‘Brothers Gas’ has announced investment worth US$15 million in Faisalabad Special Economic Zones (SEZ).
The first of the three phase investment will include installation of an Aerosol Propellant Gas (APG) plant, the Adviser Commerce said on his official twitter account here. Adviser said the local manufacturing will help reduce Pakistan’s reliance on imported APG.
The plant will also enable manufacturing of refrigerant gasses and ADNOC lubes for the first time, he said.
Razak Dawood said the actualization of foreign investments is showing a conducive business environment which is supported by friendly government policies.
“I appreciate BOI’s role in investor facilitation”, he said.
Adviser also appreciated the team’s Krave Mart (E-Commerce store) startup for securing Pakistan’s highest $6 million in pre-seed funding.
As I always say, Pakistan needs more young entrepreneurs and local brands, he said.
He said that it is very heartening to see that just in one year; our startup ecosystem has garnered such attention. This is the right time to invest and start a business in Pakistan, he said.—APP
