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$45 Billion dollar investment in Pakistan cancelled

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  • #1

    $45 Billion dollar investment in Pakistan cancelled

    ABU DHABI: Abu Dhabi royal Sheikh Nahyan bin Mubarak al-Nahyan has cancelled a tentative agreement with a Pakistani businessman that envisioned spending $45 billion on a real estate project in Karachi over 15 years – a cancellation that comes less than two weeks after the deal was signed.

    No reason was given for the cancellation in a statement by the Abu Dhabi Group, which Sheikh Nahyan chairs.

    The memorandum of understanding with Pakistani real estate tycoon Malik Riaz Hussain to build residential properties on an island had been touted in Pakistan as the country’s biggest ever foreign investment.

    The statement received by Reuters said no financial obligation or commitment had been assumed by the Sheikh, the conglomerate, or his privately owned construction firm Dhabi Contracting.

    “It is…unfortunate that discussions between the parties could not reach any conclusion and the Memorandum of Understanding has been cancelled,” it said.

    Abu Dhabi Group, which invests in emerging markets, has large investments in Pakistan including Bank Alfalah Ltd , Warid Telecom, Al Razi Healthcare and Wateen Telecom.



    Abu Dhabi royal scraps agreement for Pakistan real estate project | Pakistan | DAWN.COM
    Even Adobe Photoshop can't change me.

    A line[Durrand line] of hatred that raised a wall between the two brothers -Hamid Karzai

    For generations, the Hindus of India prayed for deliverance from "the venom of the cobra, the teeth of the tiger and the vengeance of the Afghan."


    The men of Kábul and Khilj also went home; and whenever they were questioned about the Musulmáns of the Kohistán (the mountains), and how matters stood there, they said, "Don't call it Kohistán, but Afghánistán; for there is nothing there but Afgháns and disturbances." Thus it is clear that for this reason the people of the country call their home in their own language Afghánistán, and themselves Afgháns. The people of India call them Patán; but the reason for this is not known. But it occurs to me, that when, under the rule of Muhammadan sovereigns, Musulmáns first came to the city of Patná, and dwelt there, the people of India (for that reason) called them Patáns—but God knows!

    -Ferishta, 1560–1620
    Tags: $45, billion, cancelled, dollar, investment, pakistan
  • #2
    I guess they came to their senses. Investing in education would have been great, but I guess that had no benefits for them

    Comment

    • #3
      Karachi,
      or may not enough bribes for politicians?
      Even Adobe Photoshop can't change me.

      A line[Durrand line] of hatred that raised a wall between the two brothers -Hamid Karzai

      For generations, the Hindus of India prayed for deliverance from "the venom of the cobra, the teeth of the tiger and the vengeance of the Afghan."


      The men of Kábul and Khilj also went home; and whenever they were questioned about the Musulmáns of the Kohistán (the mountains), and how matters stood there, they said, "Don't call it Kohistán, but Afghánistán; for there is nothing there but Afgháns and disturbances." Thus it is clear that for this reason the people of the country call their home in their own language Afghánistán, and themselves Afgháns. The people of India call them Patán; but the reason for this is not known. But it occurs to me, that when, under the rule of Muhammadan sovereigns, Musulmáns first came to the city of Patná, and dwelt there, the people of India (for that reason) called them Patáns—but God knows!

      -Ferishta, 1560–1620

      Comment

      • #4
        Though i don't like Pakistani politics and politicians, but as a Muslim i would have been happy if this project was implemented.
        The cancellation is obviously due to uncertain future of Pakistan. and this is another blow to ISI's policy of funding terrorism and putting it's nose in other people's business. A shame for them.

        Comment

        • #5
          Agreed ufo. ISI touts it's self as being the 'defender' of Pakistan, but their barbaric policies have single-handedly destroyed Pakistan. Today, Pakistan is synonymous with terrorism, and it's primary export to regional nations is suicide bombers and terrorists.
          Even Adobe Photoshop can't change me.

          A line[Durrand line] of hatred that raised a wall between the two brothers -Hamid Karzai

          For generations, the Hindus of India prayed for deliverance from "the venom of the cobra, the teeth of the tiger and the vengeance of the Afghan."


          The men of Kábul and Khilj also went home; and whenever they were questioned about the Musulmáns of the Kohistán (the mountains), and how matters stood there, they said, "Don't call it Kohistán, but Afghánistán; for there is nothing there but Afgháns and disturbances." Thus it is clear that for this reason the people of the country call their home in their own language Afghánistán, and themselves Afgháns. The people of India call them Patán; but the reason for this is not known. But it occurs to me, that when, under the rule of Muhammadan sovereigns, Musulmáns first came to the city of Patná, and dwelt there, the people of India (for that reason) called them Patáns—but God knows!

          -Ferishta, 1560–1620

          Comment

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