PM hopeful of SIFC bringing in over $60b investment to Pakistan

Caretaker Prime Minister Anwaar-ul-Haq Kakar has expressed optimism that the Special Investment Facilitation Council (SIFC) will attract over $60 billion in investments to Pakistan over the next five years.

In an interview with Arab News, he highlighted the SIFC's role as a one-stop solution to address concerns of foreign investors. The Prime Minister noted that key areas, such as the repatriation of funds, have already been addressed to meet the demands of foreign direct investment.

Efforts to streamline processes, reducing the approval period for foreign investments to just 15 days, have been undertaken, and a dispute resolution mechanism has been established within the SIFC framework.

In response to a question, Anwaar ul Haq Kakar revealed that the government aims to finalize a deal by December for Saudi Arabia to acquire stakes in Reko Diq, with ongoing discussions involving Pakistan, Saudi Arabia, and Barrick Company.