Pakistan’s investment body to set up six country-specific desks, including one for Saudi Arabia

ISLAMABAD: Prime Minister Shehbaz Sharif instructed Pakistan’s top investment facilitation body to set up six country- and region-specific desks, including one solely focused on Saudi Arabia, while presiding over a meeting on Saturday that concentrated on progress related to economic collaboration with friendly nations.
Last year, the country established the Special Investment Facilitation Council (SIFC), a civil-military hybrid body designed to oversee foreign financing, to help overcome its prolonged economic turmoil that has forced successive administrations to seek financial assistance from global lenders and close allies.
Pakistani officials have primarily focused on Gulf countries since the inception of SIFC, briefing governments and businesses about investment opportunities available across various economic sectors in their country, including areas like agriculture, mining and information technology.
Following the announcement of a $10 billion investment from the United Arab Emirates (UAE) during Sharif’s daylong visit to Abu Dhabi on Thursday, Pakistan expects to receive substantial investments from the region.
“The prime minister has announced that the SIFC will have a China desk, a UAE desk, a Saudi desk, a Qatar desk, a European Union desk and a United States of America desk,” Federal Minister for Information Attaullah Tarar told the media after the meeting.
“The prime minister has formally announced these six desks to promote trade and investment,” he added. “It was a historic meeting whose fruits will become visible in the coming days.”
An official statement issued after the meeting said the SIFC appreciated the recent upsurge in trade and investment related engagements under government-to-government and business-to-business frameworks, directing concerned ministries for efficient follow-ups.
It instructed the participants to make every effort to transform the commitments received from friendly countries into tangible projects and economic dividends at a fast pace.
The meeting reviewed progress on the privatization of state-owned enterprises, expressing satisfaction over the ongoing process and urging the timely accomplishment of various milestones in collaboration with relevant stakeholders.