Pakistan and Kuwait will soon sign seven memorandums of understanding (MoUs) for $10 billion in investments in Pakistan through seven projects spanning the environment, mining, and food security.
In this regard, the federal cabinet approved seven memorandums of understanding (MoUs) to be signed during interim Prime Minister Anwaarul Haq Kakar’s scheduled visit to Kuwait on Friday.
Efforts by the Special Investment Facilitation Council (SIFC) have paved the way for the signing of Memoranda of Understanding (MoUs) between Pakistan and friendly nations. These MoUs encompass a range of projects, spanning the expansion of water reservoirs, mining facilities, conservation of mangrove forests in coastal areas, information technology, and food security, as outlined by the Prime Minister’s Office in a recent statement.
During the SIFC meeting, Prime Minister Kakar and cabinet members commended the council’s endeavors, acknowledging the importance of initiatives pitched to friendly countries. The prime minister, who chaired the meeting, emphasized the need for seamless cooperation with provinces to ensure the early and fair execution of proposed projects.
The SIFC meeting also endorsed decisions from the Cabinet Committee for Disposal of Legislative Cases and the Economic Coordination Committee meeting held on Nov 14 and Nov 15, respectively.
In a special session of the SIFC apex committee, attended by relevant ministers, Chief of Army Staff Gen Syed Asim Munir, and senior officials, the body reviewed the existing level of collaboration and approved various initiatives to be presented to friendly nations. The prime minister urged swift implementation of projects under these initiatives, aiming for long-term economic benefits.
Acknowledging Saudi Arabia’s unwavering support, PM Kakar highlighted the historical ties based on commonalities of religion, values, and traditions. Saudi Arabia has consistently stood by Pakistan in difficult times, providing development assistance in education and health. The prime minister expressed gratitude for Saudi support and emphasized the exemplary assistance to the Pakistani workforce in the kingdom.
During a meeting with Imam-i-Kaaba Dr Sheikh Saleh bin Abdullah bin Humaid, PM Kakar condemned atrocities against Palestinians and emphasized the need for humanitarian assistance to Gaza. He also stressed the importance of educating the younger generation about Islamic teachings, history, and culture.
Imam-i-Kaaba praised the brotherly ties between Pakistan and Saudi Arabia, recognizing the contribution of the Pakistani diaspora to Saudi development. The meeting concluded with expressions of gratitude for Pakistan’s hospitality extended to Imam-i-Kaaba during his visit.
