ISLAMABAD: Pakistan’s top investment body on Tuesday said it had finalized plans to resolve key issues related to the country’s economic sectors of agriculture, information technology, minerals and energy.
Pakistan in June set up the SIFC — a civil-military hybrid forum — to fast-track decision-making and promote investment from foreign nations, particularly from Gulf Cooperation Council (GCC) nations. The council has pinpointed five key sectors for attracting investment: agriculture, mining, information technology, defense production, and energy.
The South Asian country established the council as it grapples with a serious economic crisis that has seen its currency weaken against the US dollar over the past one year amid staggering inflation. Pakistan is also facing an acute balance of payments crisis amid increasing foreign debt.
The SIFC’s executive committee held its fifth meeting on Tuesday to review measures for improving the investment environment in the country, a statement from the body said.
“After healthy debate, the Committee formulated workable options, by drawing consensus among stakeholders, to resolve key impediments to investment environment in the country,” the SIFC said. “The plans were also finalized to resolve issues related to four key sectors (Agri, IT, Minerals and Energy) besides, adding new projects to the forum.”
Last week, Pakistan’s Caretaker Prime Minister Anwaar-ul-Haq Kakar, during his visit to New York to attend the UN General Assembly, met business and thought leaders and stakeholders to pitch the forum to them and made the case for improved business climate in Pakistan together with its potential for foreign direct investment in a range of sectors.
Earlier this month, Kakar confirmed Saudi Arabia and the United Arab Emirates (UAE) would invest $25 billion each in cash-strapped Pakistan within the next five years as part of projects under the SIFC.
Saudi Arabia has also explored investment opportunities in Pakistan’s mining sector and contributed $500 million to modernize Pakistan’s agricultural sector through the Land Information and Management System Center of Excellence (LIMS-CoE). This continued financial backing from Gulf allies is crucial for Pakistan’s economic stability.
Pakistan moves to remove investment impediments in agriculture, IT, mining and energy sectors
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Pakistan moves to remove investment impediments in agriculture, IT, mining and energy sectors
- Pakistan in June set up Special Investment Facilitation Council, a civil-military forum, to attract foreign funding
- SIFC’s executive committee meets to review measures to improve Pakistan’s investment environment
US sees 18 percent rise in Pakistani students despite UGRAD pause, opens new USEFP headquarters
- USEFP inaugurates purpose-built campus in Islamabad as Fulbright program marks 75 years in Pakistan
- Undergraduate UGRAD program remains suspended but graduate scholarships and visas continue, US officials say
ISLAMABAD: The United States inaugurated a new purpose-built headquarters for the United States Educational Foundation in Pakistan (USEFP) this week, as American officials reported an 18 percent rise in Pakistani students studying in the US, despite the suspension of a major undergraduate exchange scheme earlier this year.
The launch comes as the Fulbright program completes 75 years in Pakistan, the world’s largest US-funded scholarship portfolio for master’s and PhD study. Officials said growing student mobility and stable visa issuance reflect continued academic engagement between the two countries, even after the UGRAD exchange program was paused in April.
USEFP Executive Director Peter Moran told Arab News that Pakistani students are still securing visas without unusual difficulty and enrollment levels remain strong.
“We are not finding that Pakistani students are facing undue difficulties getting their visas when they want to go and study on their own. The number of Pakistani students who are studying in the United States, actually based on data from the year before last, because you know there’s always a lag, it’s up 18 percent,” Moran said, citing 2023 figures.
He said nearly 10,000 Pakistanis are currently enrolled in US institutions, including self-funded students. While UGRAD, which previously sent 100–130 undergraduates per year, remains paused under US budget adjustments, Moran said there is hope it will return.
“So, the UGRAD program for now is on pause ... the UGRAD program sent undergraduate, actually high school students. That program ended in April. We don’t know when that will come back, but we sure hope that it will.”
USEFP clarified that no reductions have been applied to graduate programs.
“There is no cut on Fulbright… and we don’t anticipate there being any,” Moran added.
Around 65 Pakistani scholars left for the US through Fulbright this year, another 10–12 departed under the Humphrey Fellowship, and USEFP expects next year’s Fulbright cohort to rise to 75–80.
The inauguration of the new headquarters brought together US officials, scholarship alumni and education leaders.
US Embassy Minister Counselor for Public Diplomacy Andy Halus said the new facility reflects the depth of the bilateral academic partnership.
“We have over 9,000 students in Pakistan that have had experience in the United States on the Fulbright programs that started 70 years ago. Our commitment to sending more and more students to the United States on the Fulbright program is strong and it’s going to continue.”
Among attendees was Fulbright alumnus Aftab Haider, the CEO of Pakistan Single Window, the government-backed digital trade clearance platform. He credited the scholarship with shaping his career:
“I am a very proud Fulbrighter from 2008. I think it is one of the most transformational programs that can be offered to young Pakistanis to have the opportunity to be educated abroad, come back to Pakistan and contribute in public service delivery as well as in enhancement of the private sector.”
