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PM hopeful of SIFC managing over $60b investment to Pakistan

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Caretaker Prime Minister Anwaar-ul-Haq Kakar is optimistic that the newly formed Special Investment Facilitation Council (SIFC) will play a pivotal role in attracting over $60 billion in foreign direct investment (FDI) to Pakistan within the next five years.
The SIFC is envisioned as a streamlined mechanism to address the concerns of foreign investors and expedite the investment approval process.
Prime Minister Kakar emphasized that the SIFC has already addressed two critical issues: repatriation of foreign funds and reducing bureaucratic hurdles, ensuring that investment approvals are granted within 15 days.
The SIFC also establishes a robust dispute resolution mechanism to safeguard the interests of foreign investors.
Regarding the ongoing discussions for Saudi Arabia’s potential acquisition of stakes in the Reko Diq mining project, Prime Minister Kakar expressed confidence that an agreement will be finalized by December.
Pakistan, Saudi Arabia, and Barrick Company are actively engaged in negotiations to reach a mutually beneficial agreement.

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Republic Policy Magazine November 2023

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