Co’s interest in RE projects: SIFC expresses reservations on UAE focal persons’ attitude

ISLAMABAD: The Special Investment Facilitation Council (SIFC) has expressed reservations at the focal persons for United Arab Emirates (UAE) for not responding to the concerned company interested in renewable energy projects in Pakistan.

The SIFC, in a letter to all the relevant ministries, enclosed a self-explanatory copy of a letter of Ministry of Foreign Affairs (MoFA) written on the basis of communication from Pakistan’s ambassador to the UAE.

According to sources, Foreign Office noted that its ambassador in Abu Dhabi held a meeting with Abu Dhabi Development Holding Company (ADQ) focal person, to get an update on the seven bilateral investment MoUs signed with UAE in November 2023.

SIFC body zeroes in on RE projects

The ADQ stated that they have established initial informal contacts with all the focal persons in relevant Ministries and to open formal channels of communication they sent emails to all focal persons about a month ago. However, despite a reminder, response from them is awaited, till date. Furthermore, ADQ is waiting for the Pakistan side to send its list of priorities and bankable projects.

In light of the suggestions by MoFA, SIFC has asked all focal persons to establish formal communication channels with proper record keeping mechanisms in place.

Further, the SIFC has also requested that all the focal persons to regularly check their emails and promptly respond to their emails as in most countries around the world email is a formal channel of communication while WhatsApp is treated as an informal tool.

In view of forgoing, the SIFC has asked all focal persons to ensure compliance of the advice given by it. Updates on monthly basis regarding communications and progress made on MOUs may be provided to this secretariat on regular basis.

Copyright Business Recorder, 2024