Pakistan and Kuwait set to seal $10 b investment deal

ISLAMABAD: Pakistan and Kuwait are gearing up to finalise a significant investment deal worth $10 billion, encompassing seven diverse projects spanning environment, mining, and food security.

According to Dawn.com, the federal cabinet, in its Friday meeting, granted approval for seven memorandums of understanding (MoUs) to be inked during the upcoming visit of caretaker Prime Minister Anwaarul Haq Kakar to Kuwait.

The MoUs, facilitated by the Special Investment Facilitation Council (SIFC), will cover a spectrum of projects, including the expansion of water reservoirs, mining facilities, conservation of mangrove forests in coastal areas, information technology, and food security, as stated by the Prime Minister’s Office.

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Prime Minister Kakar, at the helm of the meeting, commended the SIFC and relevant ministries for their efforts. He stressed the need for collaboration with provinces to ensure the prompt and equitable execution of the projects.

Additionally, the meeting endorsed decisions made by the Cabinet Committee for Disposal of Legislative Cases on Nov 14 and the Economic Coordination Committee meeting on Nov 15.

In a special session of the SIFC apex committee, chaired by the caretaker prime minister and attended by relevant ministers, Chief of Army Staff (COAS) Gen Syed Asim Munir, and senior officials, strategic partnerships with friendly countries were discussed.

The committee reviewed existing collaboration levels, approved initiatives for engagement with friendly nations, and directed the accelerated implementation of envisaged projects.

PM Kakar, in an earlier meeting with Imam-i-Kaaba Dr Sheikh Saleh bin Abdullah bin Humaid, expressed gratitude to Saudi Arabia for its unwavering support across various domains. He highlighted the robust historical ties between Pakistan and Saudi Arabia based on shared religion, values, and traditions.

The prime minister lauded Saudi Arabia for assisting in education and health sectors in Pakistan and acknowledged the exemplary support extended to the Pakistani workforce in the kingdom.

PM Kakar condemned the atrocities against Palestinians, emphasising the need for a humanitarian corridor to ensure uninterrupted assistance to the people in Gaza.

The Imam-i-Kaaba praised the brotherly and exemplary ties between Pakistan and Saudi Arabia, expressing appreciation for the hospitality extended during his visit.

The meeting was attended by interim federal ministers Aneeq Ahmed and Madad Ali Sindhi, PM’s Special Assistant Tahir Ashrafi, and Saudi Ambassador Nawaf bin Said Al-Malki.