July 30, 2023
1 min read

Pakistan to woo gulf investments

The Diamer-Bhasha dam has also been offered to China for investment under CPEC….reports Asian Lite News

Pakistan’s new Special Investment Facilitation Council (SIFC) — a hybrid civil-military forum — has approved 28 projects worth billions of dollars that would be offered to Gulf countries for investment, including the construction of Diamer-Bhasha dam and mining operations at Reko Diq in Balochistan’s Chagai district, the media reported.

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 $28 billion under the China-Pakistan Economic Corridor (CPEC), Express Tribune reported.

Initially, the approved schemes are in the food, agriculture, information technology, mines and minerals, petroleum and power sectors. They include cattle farms; the $10 billion Saudi Aramco refinery; explorations of copper and gold in Chagai; and the Thar Coal Rail connectivity scheme.

The Diamer-Bhasha dam has also been offered to China for investment under CPEC.

In order to give legal cover to the SIFC working, parliament this week had approved a host of amendments to the Pakistan Army Act and the Board of Investment (BOI) Ordinance, Express Tribune reported.

Amendments to the Election Act have also been introduced to ensure the continuity of work on these schemes during the tenure of the caretaker government.

These laws will provide fast track execution of the initially approved 28 multi-billion dollars’ investment projects, besides ensuring immunity to the decision-makers from any kind of investigation by various anti-graft bodies, Express Tribune reported.

ALSO READ: Pakistan teams up with Chinese firms for multibillion-dollar Saudi refinery project

Previous Story

Controversy dogs PLA Rocket Forces

Next Story

US, Australia,India Join Forces to Safeguard Indo-Pacific Security and Stability”

Latest from -Top News

Xi Welcomes Modi at SCO Reception

Earlier in the day, PM Modi held a meeting with Chinese President Xi Jinping in Tianjin…reports Asian Lite News Chinese President Xi Jinping and his wife, Peng Liyuan, welcomed Prime Minister Narendra

Modi Meets Xi in Tianjin

During the meeting, the two leaders reviewed the progress of India-China ties since last meet in Russia’s Kazan in 2024…reports Asian Lite News Prime Minister Narendra Modi held a bilateral meeting with

Xi Woos Arab World

For Egypt, the summit carries special significance. Egypt’s accession as an SCO dialogue partner marks a strategic step toward forging more balanced, diversified international partnerships, particularly with emerging countries such as China,

More Killings in Gaza

Israel’s state-owned Kan TV News reported that Israel will stop the airdrop operation of humanitarian aid over Gaza City in the coming days, and the entry of ground aid via trucks to
Go toTop

Don't Miss

LORD RANGER SLAMS PAKISTAN IN HOUSE OF LORDS

LORD RAMI RANGER: ‘People in Pakistan like Ahmediyas, like Sikhs,

India downgrades ties with Pakistan 

The decision — which also included the downgrading of diplomatic