ISLAMABAD: Pakistan’s top investment body reviewed the country’s economic engagements with Middle Eastern states on Wednesday, focusing on mechanisms to implement recently signed memoranda of understanding (MoUs) and agreements in the region at the earliest.
The Special Investment Facilitation Council (SIFC), a civil-military hybrid forum, was established in July last year to fast-track decision-making and promote investment from foreign nations, particularly from the Gulf countries.
The council has helped the country sign billions of dollars of deals with countries like the United Arab Emirates and Kuwait where Pakistan’s official delegation was led by Caretaker Prime Minister Anwaar-ul-Haq Kakar in November while looking for economic opportunities and foreign investment.
Kakar also chaired the 8th meeting of SIFC’s Apex Committee to examine progress on projects carried out in key economic sectors and determine plans for timely realization of the envisaged investments.
“The Committee appreciated the enhancing level of economic engagements with friendly countries including finalization of Bilateral Investment Treaty with Kingdom of Saudi Arabia and Qatar as well as signing of MoUs and Framework Agreements with United Arab Emirates and State of Kuwait respectively,” said an official statement released by the Prime Minister’s Office after the meeting.
“The forum gave directions to convert these sovereign commitments into economic reality at fast pace,” it added.
The SIFC reviewed progress on various measures taken by the government to improve the investment climate while approving policy level interventions, such as strengthening of domestic dispute resolution mechanism, to facilitate investors.
It also examined progress on privatization process and appreciated the collaborative approach of various stakeholders.
The participants of the meeting expressed firm resolve to act against smugglers, hoarders and market manipulators, saying such elements had negatively impacted the country’s economic trajectory.
Chief of Army Staff General Asim Munir, who is part of the committee, assured the unwavering support of the armed forces to help the government in its endeavor to strengthen the national economy.
The prime minister directed all stakeholders to vigorously pursue various SIFC initiatives to ensure their accomplishment within the stipulated timeframe.
Pakistan’s investment body reviews economic progress, seeks swift implementation of Middle East deals
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Pakistan’s investment body reviews economic progress, seeks swift implementation of Middle East deals
- Special Investment Facilitation Council helped Pakistan sign billions of dollars of deals with Kuwait, UAE last year
- The SIFC reviewed progress on various measures taken by government to improve Pakistan’s investment climate
Pakistan Airports Authority reports ‘historic’ twin-engine aircraft landing in Lahore
- Twin-engine aircraft are usually larger, heavier and require better airport infrastructure, navigation systems to land
- Pakistan Airports Authority says landing reflects its commitment to enhance aviation sector, strengthen infrastructure
ISLAMABAD: The Pakistan Airports Authority (PAA) announced on Saturday that the New General Aviation Aerodrome achieved a significant milestone when it handled the landing of a twin-engine aircraft.
A twin-engine aircraft has two engines that provide it redundancy and increased performance compared to single-engine counterparts. These aircraft range from small twin-engine propeller planes to large commercial jetliners. The presence of multiple engines enhances safety by allowing the aircraft to continue flying in the event of an engine failure.
However, twin-engine aircraft are usually larger, heavier and more complex than single-engine planes. They require advanced airport infrastructure such as better runways, navigation systems and air traffic coordination.
“The New General Aviation Aerodrome, Lahore achieved another significant operational milestone today with the successful landing of a twin-engine aircraft, following the recent arrival of a single-engine aircraft,” the PAA said in a statement.
It said the flight was also boarded by Air Vice Marshal Zeeshan Saeed, the director general of the PAA. The move reflected “strong institutional confidence” in the aerodrome’s safety standards, operational capability, and overall readiness, it added.
“The landing was conducted with exceptional precision and professionalism, demonstrating the aerodrome’s robust operational framework, technical preparedness, and effective airside coordination in accordance with contemporary aviation requirements,” the PAA said.
It said the landing represented a “major advancement” in Pakistan’s general aviation sector and underscores the PAA’s commitment to enhancing regional aviation capacity, strengthening infrastructure and promoting excellence in aviation development.
