Pakistan To Get Malaysia's Help In Building 500,000 Low Cost Houses: Bernama

By Sajad Hussein

KUALA LUMPUR, Aug 10 (Bernama) -- Pakistan is currently negotiating with several Malaysian property developers to build some 500,000 units of low cost houses annually in various parts of the country.

Its High Commissioner Lt. General (Rtd) Tahir Mahmud Qazi told Bernama on Monday he had already met the management of Reneux Bhd, a reknown world class developer, which had agreed to participate in the development of such houses in Pakistan's Punjab state.

With a population of over 165 million, Pakistan offers Malaysian developers tremendous opportunities in the housing sector as there is a great shortage of houses there, Tahir said.

"We have a huge backlog of houses to be built, and hope to engage Malaysian developers to assist us in overcoming it."

He said the High Commission would be also providing other potential developers with information on the exact location of the housing estates, the number of houses to be built in each of them and total number of rooms required.

Besides housing, the Pakistanis are also keen to develop educational ties with Malaysia, he said.

For more on this article, please click on the following link: Pakistan To Get Malaysia's Help In Building 500,000 Low Cost Houses: Bernama

Malaysia emerges as biggest FDI investor in Pakistan: APP

ISLAMABAD, Dec 31 (APP): Malaysia tops the list of investors making Foreign Direct Investment (FDI) in Pakistan during first six month of year 2008, according to data released by Ministry of Foreign Affairs. The Foreign Direct Investment during the first five months of current financial year reached US$ 1.8 billion registering an increase of 1.5 percent, export reached to US$ 8.2 billion with a growth of 20 percent and foreign remittance at 2.9 billion registered an impressive increase of 15pc. 

The May Bank made the biggest investment of US$ 907 million in banking sector followed by Saudi Arabia with an investment of US$ 750 million in steel sector and UAE with an investment of US$ 500 million in power sector.

The global economic meltdown has not deterred the foreign investors including Malaysia to invest in Pakistan, as the Pakistan’s economy showed extreme resilience and defied the economic recession with registering growth in FDIs, Export and Foreign Remittance.

According to the data, another ASEAN member country Singapore has made an investment of US$ 147 million in banking sector and US$ 30 million in power sector and as such trails far beyond Malaysia.

Other countries who are flocking Pakistan for FDI in banking sector are Switzerland with an investment of US$ 200 million, United Kingdom US$ 125 and Saudi Arabia US$ 200 million.

The countries making investment in Hypermarkets in Pakistan are Germany with an investment of US$ 100, Holland with an investment of US$ 100 million and France with an investment of US$ 40 million, whereas countries making investment in power sector are UAE with an investment of US$ 500 million, OPEC with an investment of US$ 30 million and  Turkey with an investment of US$ 130 million.

For more on this article, please click on the following link: Malaysia emerges as biggest FDI investor in Pakistan: APP

Malaysia Maybank plans stake in Pakistan takaful firm: Reuters

KUALA LUMPUR, June 25 (Reuters) - Malaysia's Malayan Banking Bhd (MBBM.KL: Quote, Profile, Research), the country's largest in asset terms, plans to buy a 30 percent stake in Pak-Kuwait Takaful Company Ltd, the Malaysian lender said on Wednesday.

Pak-Kuwait Family Takaful is in the process of applying for license from the authorities in Pakistan to operate the family takaful (Islamic insurance) business, it said.

(Reporting by Jalil Hamid)

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Pakistan Reduces tariffs on Palm Oil import from Malaysia: Online News

ISLAMABAD: Under Closer Economic Partnership Agreement (MPCEPA) signed between Pakistan and Malaysia in November, 2007, Pakistan has reduced the tariffs on seven (7) palm products by 10% Margin of Preference (MoP) with effect from on January 1, 2008, giving a further boost to Palm oil import by Pakistan which is expected to increase by 33% higher in the year 2008 compared 2007.

According to the Commercial Counselor of High Commission for Pakistan in Malaysia, Mr. Majid Qureshi, the tariff will further be reduced by 5% MoP, starting from January 1, 2010, making Malaysia as the first choice for Pakistan to import Palm oil and its products compare to its closest competitors. . The palm oil export to Pakistan by Malaysia has registered 10.4% increase in the year 2007 compared to 2006. In 2007, total export to Pakistan was 10,70,067 tones compared to the year 2006 at 9,68,406 tones.

For more on this article, please click on the following link: Pakistan Reduces tariffs on Palm Oil import from Malaysia: Online News