NA body informed: Arab countries keen to invest in various sectors

ISLAMABAD: Secretary Special Investment Facilitation Council (SIFC) Jameel Ahmed Qureshi on Wednesday informed the National Assembly Standing Committee on Board of Investment (BoI) that Arab countries have shown significant interest in investment in different sectors.

While briefing the Standing Committee of the Assembly he contended that the SIFC is focused on investments from Arab countries including Saudi Arabia, Qatar and the UAE.

He said Secretariat of the Council has been established in the Prime Minister’s Office, which will start working in the next two days.

“A lot of investment proposals have come from Arab countries. Saudi Arabia is looking to invest in minerals. Qatar and UAE are interested in investing in agriculture whereas Chinese companies are also looking to invest in Pakistan in other sectors including seeds,” he added.

The secretary SIFC further stated that a lot of investment is expected to come into Pakistan, adding that currently the focus of the council is foreign investment, local investors will be considered later on.

He informed the committee that a meeting of the Executive Committee of the Council is due on Thursday (today), which will consider the inclusion of important subjects.

He said that agriculture, IT, minerals and energy are in the mandate of the Council for which investment will be sought.

However, Committee member Zulfiqar Bhatti proposed that tourism, education and health should also be included in the mandate of the Council.

Another Committee member, Sajid Mehdi proposed that Pakistan will have to focus on value addition, adding that cotton production needs to be increased.

Nuzhat Pathan, another MNA said that there is “Khao system” in Pakistan and capable people are not being given their due role.

Copyright Business Recorder, 2023