SIFC DRIVING PAKISTAN’S ECONOMY
Hira Tahir
05 December 2023
Published in: Minute Minor
Pak eco landscape has undergone a remarkable transformation; largely attributed to estb of SIFC. Immediate obj is to attract $5 billion in foreign investment, with a long-term goal of reaching $60 billion within five yrs and eventually achieving $100 billion.
A dedicated plan was devised to boost FDI, leading to signing of bilateral trade and investment agreements with several ctys. KSA, UAE, and Qatar have expressed interest in investing in Pak.
MoU’s worth multi-billion dollars signed between Pak and UAE. These encompass investment cooperation across diverse sectors, such as energy, port operations, waste water treatment, food security, logistics, mining, aviation, and banking and financial services.
As a result of efforts of SIFC, Kuwait also signed MoUs for investment, eco dimension of this relationship is gradually becoming significant, with the current level of Kuwaiti exports to Pak around $750 million and Pak exports to Kuwait approx $50 million.
Govt is anticipating finalizing a deal with KSA by Dec of this year for sale of shares in Reko Diq project. It is anticipated that Arab companies will invest in management and op of airports and seaports, further enhancing infrastructure development.
These strategic measures collectively aim to stimulate eco growth, attract foreign investments, and bolster Pak financial outlook.
