ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar expressed his optimism about reaching a significant deal with Saudi Arabia for a stake in the Reko Diq project by December.
The prime minister’s statement came as he emphasized the warm reception of the Saudi offer and ongoing negotiations among all concerned parties. Kakar went on to highlight the hope for the Kingdom’s participation in various other projects as well.
Addressing a different aspect of economic growth, Kakar shared his aspirations for the Special Investment Facilitation Council (SIFC), emphasizing its potential to attract more than $60 billion in investment over the next five years. He described the SIFC as a “one-stop shop” designed to address the concerns of international investors efficiently.
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The caretaker prime minister noted that obstacles related to the repatriation of dollars by foreign investors have been successfully addressed. Furthermore, he highlighted a significant shift in the approach to formal bureaucratic regulations, with a commitment to expeditious processes. He underlined the SIFC platform as a key element in this transformation, aimed at swiftly eliminating hurdles and facilitating foreign investments in Pakistan within just 15 days.
To ensure a conducive investment environment, Kakar also revealed the development of a dispute resolution system under the umbrella of SIFC. This system has been designed to be fair and acceptable to all parties involved, further enhancing Pakistan’s appeal as an investment destination.
The positive outlook expressed by the caretaker prime minister reflects Pakistan’s commitment to fostering international investments and creating an investor-friendly environment that enables economic growth and prosperity.
