February, 22, 2024
Pakistan-Kuwait Investment MoUs and Economic Priorities

Pakistan-Kuwait Investment MoUs and Economic Priorities

Infostani Sources- The Prime Minister plans to visit Kuwait to oversee the signing of seven investment MoUs between Pakistan and Kuwait, approved by the Federal Cabinet. The Special Investment Facilitation Council (SIFC) played a pivotal role in facilitating these agreements. Thereby enabling Kuwait to invest $10 billion across various sectors in Pakistan. Notably, these sectors encompass the expansion of reservoirs, mining facilities, and protection. Also the enlargement of mangrove forests along coastal areas, as well as advancements in the IT sector. Additionally, substantial investments are earmarked for projects related to food security. Prime Minister Anwar ul Haq Kakar chaired the caretaker federal cabinet meeting, providing impetus to these significant developments.

The Special Investment Council and the relevant ministries received appreciation from the Prime Minister and the Federal Cabinet for their efforts. The Prime Minister explicitly directed ensuring cooperation with the provinces at the federal level in these Memorandums of Understanding (MoUs) to expedite and ensure transparency in completing these projects. The Federal Cabinet approved the decisions made in the meeting of the Cabinet Committee on Legislative Affairs on November 14, 2023. Moreover, the Federal Cabinet also gave its approval to the decisions taken in the meeting of the Economic Coordination Committee (ECC) on November 15, 2023.

Pakistan: Key Developments – SIFC Meeting, Economic Priorities, and PIA Privatization

Pakistan-Kuwait Investment MoUs and Economic Priorities

Under the chairmanship of Caretaker Prime Minister Anwarul Haq. A meeting of the Special Investment Facilitation Council (SIFC) EPICS Committee took place yesterday. Attended by Army Chief General Syed Asim Munir, federal ministers, and representatives of provinces. As well as high-level government officers, the meeting emphasized the swift implementation of various projects. Furthermore, the gathering reviewed the progress of investments from Saudi Arabia, Qatar, and the United Arab Emirates. The post-meeting announcement stated that assurances were given regarding the provision of additional facilities to these countries.

The concerned ministries received praise from the Prime Minister for identifying potential investment areas. The Prime Minister, in turn, directed all stakeholders to actively pursue the goal of achieving long-term economic profit. The Army Chief, in a commitment of unwavering support. Assured that the Pakistan Army stands firmly behind the government’s economic initiatives.

PM Kakar’s Vision: Prioritizing PIA Privatization and Youth Skill Development

Addressing an event on Friday, Prime Minister Anwar-ul-Haq Kakar acknowledged the caretaker government’s struggle with challenging issues across various sectors, including the economy, privatization, and communication. Emphasizing the necessity of privatizing financially struggling institutions, the Prime Minister specifically highlighted PIA as the top priority. He asserted that the caretaker government aims to leave a legacy of good governance and a reform-oriented approach.

Proudly acknowledging Pakistan’s strategic position, the Prime Minister underscored the importance of the youthful population. With over 24 crore people, he highlighted the significance of imparting skills to youth under 25 years of age. Additionally, the caretaker government has prioritized a program to train one million nurses within a decade.

Pakistan-Kuwait Investment MoUs and Economic Priorities

Pakistan’s Connectivity Initiatives and Media Regulation Concerns

In reference to geographical connections, the Prime Minister mentioned ongoing efforts to connect Pakistan through the Trans-Afghan Railway. Also the improvement of the Quetta-Taftan rail network. Additionally, he noted the recent launch of direct flights with Azerbaijan, anticipating a reduction in travel time and a boost in trade.

While acknowledging the freedom of the media in the country. Prime Minister expressed concern about the unregulated nature of social media. Despite its lack of control, he stressed the need to formulate regulations through deliberation with stakeholders to effectively address the challenges posed by digital media.

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