Pakistan and Kuwait to Agree on $10 Billion Investment Deals

Pakistan and Kuwait are poised to ink seven Memorandums of Understanding (MoUs), paving the way for investments worth $10 billion in Pakistan.

The federal cabinet, in its recent meeting, approved these agreements which covered the environment, mining, and food security sectors.

The impending visit of caretaker Prime Minister Anwaarul Haq Kakar to Kuwait will witness the signing of these MoUs, signifying a deepening of economic ties between the two nations.

The approved projects include the expansion of water reservoirs, mining facilities, conservation of mangrove forests in coastal areas, information technology, and initiatives to enhance food security.

The Special Investment Facilitation Council (SIFC) played a pivotal role in facilitating these agreements, reflecting joint efforts to bolster economic cooperation. The federal cabinet, under the leadership of PM Kakar, expressed appreciation for the collaborative efforts of SIFC and relevant ministries in fostering strategic partnerships.

During the meeting, PM Kakar underscored the importance of cooperation with provinces to ensure the swift and fair execution of the approved projects. The Cabinet Committee for Disposal of Legislative Cases and the Economic Coordination Committee’s decisions from earlier meetings were also endorsed during this session.

In a special session of the SIFC apex committee, PM Kakar, along with relevant ministers, Chief of Army Staff Gen Syed Asim Munir, and senior officials, discussed and approved various initiatives aimed at enhancing collaborations with friendly countries.

The PM directed all stakeholders to expedite the implementation of projects envisioned under these initiatives for long-term economic dividends.

Additionally, PM Kakar expressed gratitude to Saudi Arabia for its consistent support to Pakistan, emphasizing the strong historical ties based on shared religious, cultural, and traditional values.

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