The interim federal cabinet on Friday gave the nod to seven memorandum of understanding (MoUs) with Kuwait for an investment worth $10 billion that would be signed by caretaker Prime Minister Anwaarul Haq Kakar during 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 expected MoUs between the two countries became possible due to the efforts made by the Special Investment Facilitation Council (SIFC), according to a statement issued by the PM Office.
It added that the interim premier, who chaired the meeting in the federal capital, and his cabinet members appreciated the efforts of the SIFC and the relevant ministries.
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The caretaker prime minister issued directions to the federal authorities concerned to ensure cooperation with the provinces for early and fair execution of the projects.
The statement read that the participants of the huddle endorsed the decisions of the Cabinet Committee for Disposal of Legislative Cases it had made in its meeting on Nov 14.
A special session of Apex Committee, SIFC was held today, to foster strategic partnerships with friendly countries.
— Prime Minister's Office (@PakPMO) November 24, 2023
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.
The… pic.twitter.com/OYV6GvoDkt
They also gave the nod to the decisions made during the Economic Coordination Committee meeting on Nov 15.
In a related development, 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.
According to another news statement issued by the PM Office, the interim premier was chairing a special session of the apex committee of the SIFC held in Islamabad to foster strategic partnerships with friendly countries.
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The statement added that the meeting was attended by Chief of Army Staff (COAS) Gen Asim Munir, ministers and high-level government officials.
The apex committee reviewed the existing level of collaboration and unanimously approved various initiatives to be launched with friendly countries.
It directed to step up the implementation of various projects conceived under these initiatives.
The COAS assured the unwavering resolve of Pakistan Army to support the economic initiatives being undertaken by the government, the statement concluded. (With input from APP)
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