DPM, OYAK CEO discuss expansion of Pakistan-Turkiye economic ties

WEB DESK: Deputy Prime Minister and Foreign Minister Ishaq Dar met with OYAK General Manager and CEO Murat Yalçıntaş and his delegation on the sidelines of the Pakistan-Turkiye Business Conference.

During the meeting, the two sides reaffirmed their commitment to expanding investment opportunities, strengthening industrial cooperation, and exploring new avenues for a strategic economic partnership between Pakistan and Turkiye.

The OYAK CEO and his team appreciated Pakistan’s economic growth and development, expressing strong interest in expanding investment in the country.

The meeting was also attended by the Maritime Affairs Minister, Energy Minister, Petroleum Minister, Privatisation Minister, IT Minister, and Pakistan’s Ambassador.

Meanwhile, key federal ministers addressed the top business community of Turkey, sharing with them vast investment opportunities in Pakistan’s energy, petroleum and information technology sectors while addressing the Pakistan-Turkiye B2B Conference.

Federal Minister for Petroleum Ali Pervaiz Malik said Pakistan offers attractive investment prospects in the oil and gas sector, noting that the country’s energy demand is significantly higher than domestic production. He added that 178 active oil and gas exploration licences are currently issued in the country.

IT Minister Shaza Fatima Khawaja said 26,000 IT companies are registered in Pakistan, with a large freelancer base and a growing digital ecosystem. She said special technology zones have been established, while Pakistan has around 200 million mobile users. She added that the prime minister is focusing on promoting a cashless economy and e-governance.

Energy Minister Awais Leghari said reforms in the power sector have helped reduce losses, adding that work is underway on the digitalisation of the transmission system. He said efforts are also being made to privatise distribution companies, while significant investment opportunities exist in transmission infrastructure.