ISLAMABAD: Pakistan’s Special Investment Facilitation Council (SIFC) has signed an agreement with an Emirati consultancy firm, AT Kearney Middle East Limited, for the promotion of foreign investment in the country’s diverse sectors, Pakistani state media reported on Saturday.
Islamabad established the SIFC, a civil-military hybrid forum, in June last year to attract foreign direct investment in agriculture, mining, information technology, defense production and energy sectors.
A team of AT Kearney and Pakistan’s Public-Private Partnership Authority officials held a detailed meeting with the SIFC national coordinator to discuss the roadmap for collaboration, the Radio Pakistan broadcaster reported.
“The UAE company will provide expertise over a period of eighteen months focusing on a number of key areas to drive foreign investment,” the report read.
“The agreement includes strategies for attracting investment in key sectors and conducting pre-feasibility studies for selected projects.”
The development comes amid a push for foreign investment by Pakistan, which has been facing low foreign exchange reserves, currency devaluation and high inflation.
The South Asian country is making desperate attempts to boost foreign investment and has reached a $7 billion loan deal with the International Monetary Fund (IMF) to support its $350 billion fragile economy.
Pakistan signs agreement with UAE firm for expertise to drive foreign investment
https://arab.news/pa37z
Pakistan signs agreement with UAE firm for expertise to drive foreign investment
- Islamabad established the SIFC, a civil-military hybrid forum, in June last year to attract investment
- The UAE consultancy firm will provide expertise over a period of 18 months focusing on a number of areas
Pakistan inaugurates new consulate building in Jeddah, pledges improved services for expatriates
- Deputy PM Ishaq Dar says government is committed to easing consular access for overseas Pakistanis
- The Kingdom is home to one of Pakistan’s largest overseas communities and a key source of remittances
ISLAMABAD: Pakistan on Saturday inaugurated a new chancery building for its consulate in the Saudi city of Jeddah, underlining the government’s resolve to improve consular services for millions of Pakistanis living and working in the Kingdom.
The inauguration was led by Deputy Prime Minister and Foreign Minister Ishaq Dar, as Islamabad strengthens diplomatic infrastructure in Saudi Arabia, home to one of Pakistan’s largest overseas communities and a key source of remittances.
During the ceremony, Dar praised the efforts of the Consulate General of Pakistan in Jeddah and acknowledged the support of Saudi authorities in completing the project, according to a statement from Pakistan’s foreign ministry.
“The Deputy Prime Minister and Foreign Minister of Pakistan, Senator Mohammad Ishaq Dar inaugurated the new chancery building in a small and graceful ceremony in Jeddah,” the statement said.
“He emphasized that the government is committed to facilitating overseas Pakistanis through provision of effective consular services,” it added.
The ceremony included the hoisting of Pakistan’s flag, a tree plantation at the chancery premises, ribbon cutting and the unveiling of a commemorative plaque, followed by prayers for Pakistan and Saudi Arabia.
Dar later reviewed the facilities and authorized the transfer of consular operations to the new chancery at the earliest, expressing satisfaction over the completion of the project.
Western Saudi Arabia is home to around 1.8 million Pakistanis, said the statement, adding that the new building is expected to ease access to consular and administrative services for the community.
