ISLAMABAD: The Executive Committee of Pakistan’s Special Investment Facilitation Council (SIFC) on Wednesday reviewed projects under accords signed with the United Arab Emirates (UAE) and Kuwait last month, with the aim to fast-track the commitments into “economic dividends.”
Prime Minister Anwaar-ul-Haq Kakar signed multimillion dollar deals with the UAE and Kuwait during a week-long visit to the Middle East in December, ahead of attending the United Nations climate conference, or COP28, in Dubai. In the UAE, he signed memorandums of understanding (MoUs) in various fields, including energy, port operation projects, wastewater treatment, food security, logistics, mining, aviation and banking and financial services.
With Kuwait, Kakar signed deals in the sectors of manpower, IT, mineral exploration, food security, energy and defense.
“It [SIFC review committee] also reviewed progress regarding finalization of bankable projects under the auspices of MoUs and Framework Agreements concluded with the United Arab Emirates and the State of Kuwait respectively,” state-run APP reported after the conclusion of the SIFC meeting.
“The Committee directed ministries to fast-track the related work to convert these commitments into economic dividends.”
The new Special Investment Facilitation Council was set up in July last year to serve as a “one window operation” to address any concerns of foreign investors, with a special focus on attracting funds from Gulf nations.
Pakistan’s special investment council aims to fast-track projects under accords concluded with UAE, Kuwait
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Pakistan’s special investment council aims to fast-track projects under accords concluded with UAE, Kuwait
- PM Kakar signed multimillion dollar deals with UAE and Kuwait during week-long visit to Middle East in December
- Special Investment Facilitation Council was set up in July to serve as “one window operation” for foreign investors
