Kuwait to invest $10 billion via Special Investment Facilitation Council (SIFC) initiative

The interim federal cabinet on Friday approved seven memorandum of understanding (MoUs) with Kuwait for an investment worth $10 billion.The caretaker Prime Minister Anwaar-ul-Haq Kakar to sign the (MoUs) in his upcoming visit to the Middle Eastern country.

The MoUs will be inked for projects in various fields, including expansion of water reservoirs, mining facilities, protection and expansion of mangrove forests for coastal areas, investment in IT sector and food security.

The prime minister, who chaired the meeting, instructed to ensure cooperation with the provinces for the early and fair execution of the projects.The expected MoUs between the two countries became possible due to the efforts made by the Special Investment Facilitation Council (SIFC).

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.

A special session of Apex Committee, SIFC was held today, to foster strategic partnerships with friendly countries.

The meeting was chaired by Caretaker Prime Minister Anwaar-ul-Haq Kakar and attended by Chief of Army Staff, ministers and high level government officials.

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— Prime Minister's Office (@PakPMO) November 24, 2023

In another special session of Apex Committee, SIFC was held today, to foster strategic partnerships with friendly countries.

PM Kakar, while appreciating the efforts of relevant ministries for identifying prospective areas of collaboration under the SIFC, directed all the stakeholders to make efforts to realise the envisioned long-term economic dividends.

The statement added that the meeting was attended by Chief of Army Staff (COAS) Gen Asim Munir, ministers and high-level government officials.