Pakistan, Kuwait to seal $10bn investment deal

ISLAMABAD: Pakistan and Kuwait will soon sign seven memorandums of understanding (MoUs) for investments worth $10 billion in Pakistan through seven projects in multiple fields, including environment, mining, and food security.

In this regard, the federal cabinet, in its meeting held on Friday, approved seven MoUs to be signed during the upcoming visit of caretaker Prime Minister Anwaarul Haq Kakar to Kuwait.

Consequent to the efforts by the Special Investment Facilitation Council (SIFC), both countries would sign MoUs on multiple projects, including the expansion of water reservoirs, mining facilities, conservation of mangrove forests in coastal areas, information technology and food security, the PM Office said in a statement.

PM Kakar and the cabinet members appreciated the efforts of the SIFC and the relevant ministries.

SIFC meeting approves initiatives to be pitched to friendly countries; PM appreciates Saudi support for Palestinians

The prime minister, who chaired the meeting, instructed to ensure cooperation with the provinces for the early and fair execution of the projects.

The body also endorsed the decisions of the Cabinet Committee for Disposal of Legislative Cases, which it had taken in its meeting on Nov 14, as well as those of the Economic Coordination Committee meeting on Nov 15.

SIFC meeting

The caretaker prime minister also chaired a special session of the SIFC apex committee, which was also attended by the relevant ministers, Chief of Army Staff (COAS) Gen Syed Asim Munir and senior officials.

The special session was held to foster strategic partnerships with friendly countries, according to a PM Office statement.

The committee reviewed the existing level of collaboration and unanimously approved various initiatives to be broached with friendly countries and directed to fast-track implementation of various projects conceived under these initiatives.

The PM appreciated the efforts of relevant ministries for identifying prospective areas of collaboration and directed all stakeholders to realise envisioned long-term economic dividends.

The COAS assured unwavering resolve of Pakistan Army to support economic initiatives being undertaken by the government.

Strong ties with Saudi Arabia

Earlier, PM Kakar said Saudi Arabia always stood with Pakistan in difficult tim­es, extending support across diverse fields.

Talking to Imam-i-Kaaba Dr Sheikh Saleh bin Abdullah bin Humaid on Friday, the prime minister said Pakistan and Saudi Arabia were tied in the strong historical relationship, based on commonalities of religion, values, and traditions.

PM Kakar expressed gratitude to Saudi Arabia for providing development assistance to Pakistan in the fields of education and health. He also highlighted the exemplary support provided by the Saudi government to the Pakistani workforce in the kingdom.

The prime minister pointed out that Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman recently expressed unconditional support for the Palestinians by convening an emergency session of the OIC.

During the meeting, PM Kakar strongly condemned the atrocities committed against Palestinians and the massacre of children in Gaza. He emphasised the need to open a corridor for the uninterrupted supply of humanitarian assistance to the people in Gaza. On Islamophobia, the prime minister stressed the importance of educating the younger generation through documentaries on Islamic teachings, history, and culture.

The Imam-i-Kaaba described the ties between Pakistan and Saudi Arabia as brotherly and exemplary. He praised the contribution of the Pakistani diaspora to the development and progress of Saudi Arabia, emphasising the importance of upbringing the younger generation in accordance with Islamic teachings.

Expressing gratitude, the Imam-i-Kaaba thanked Pakistan for the excellent hospitality extended to him during his visit to the country. The meeting was attended by interim federal ministers Aneeq Ahmed and Madad Ali Sindhi, PM’s Special Assistant Tahir Ashrafi, and Saudi Ambassador Nawaf bin Said Al-Malki.

Published in Dawn, November 25th, 2023



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