Key Points
In a major development, cash-strapped Pakistan has in principle approved 28 projects worth billions of dollars that would be offered to Gulf countries for investment with the long-term objective to reduce reliance on loans and imports..
The newly established Special Investment Facilitation Council (SIFC) -- a hybrid civil-military forum - is leading the drive to fast-track economic development to address the financial woes of the country...
The list of the approved projects suggests that if all the schemes are picked up by countries, including Qatar, Saudi Arabia, the UAE and Bahrain, the quantum of investment under the SIFC banner can be greater than the USD 28 billion under the China-Pakistan Economic Corridor (CPEC), The Express Tribune reported...
Another law, the Pakistan Sovereign Wealth Fund, is also in the pipeline that will provide equity to the SIFC-approved projects for both joint ventures with foreign nations or single ownership schemes...
The sources continued that the SIFC had approved the setting up of technology zones, a project for investment in the optical fibre network, the establishment of Cloud infrastructure and a semiconductor designer, manufacturing of smart devices, a global skill hub scheme and various centres of excellence...
You might be interested in
New USD 3 billion loan programme to help Pakistan’s efforts in stabilising its ailing economy: IMF
14, Jul, 23The IMF has said that the recently approved USD 3 billion loan programme will provide much-needed relief for Pakistan as it would anchor the cash-starved country’s immediate efforts to stabilise its economy and ensure that the current balance of payments needs was fulfilled, a media report sai
Black market activities, smuggling cost Pakistan's economy USD 23 billion annually: Report
07, Oct, 23Illegal activities such as black market currency trade, gold smuggling, and oil smuggling are costing Pakistan's economy USD 23 billion per year, says