Pakistan Establishes Seven Desks to Attract Foreign Investment

In a significant move to boost foreign investment, Minister for Information and Broadcasting, Pakistan, Attaullah Tarar, announced the establishment of seven specialised desks under the Special Investment Facilitation Council (SIFC). These desks are focused on attracting investments from China, Qatar, UAE, Saudi Arabia, the European Union, the United States, and the Far East.

Speaking at a press conference, Minister Tarar highlighted the strategic importance of these desks in facilitating and streamlining foreign investments. He noted that the UAE’s official press agency has already confirmed a $10 billion allocation for investments in Pakistan. Similarly, significant progress has been made in negotiations with Saudi Arabia for a $5 billion investment, with agreements expected to be signed shortly.

Prime Minister Shehbaz Sharif is set to embark on a crucial visit to China, where discussions will focus on addressing the concerns of Chinese citizens in Pakistan and advancing the China-Pakistan Economic Corridor (CPEC) along with other bilateral projects.

Minister Tarar emphasised that Pakistan’s current government has achieved several diplomatic milestones. He mentioned Prime Minister Sharif’s recent telephonic conversations with the Prime Ministers of Norway and Ireland, where Pakistan’s stance on the Middle East situation was discussed, particularly regarding the ongoing conflict in Gaza and Rafah.

Tarar reiterated Pakistan’s consistent support for Palestinian rights and highlighted Prime Minister Sharif’s strong statements at international forums, including the UN General Assembly, advocating for an urgent and lasting solution to the Palestinian issue.

On the economic front, Minister Tarar pointed out the positive trends in Pakistan’s economy. He noted a reduction in the current account deficit, an increase in information technology-related exports, a decrease in inflation to 17%, and an improvement in foreign exchange reserves. These developments, he asserted, indicate that Pakistan’s economy is on the path to stabilisation and revival, as recognised by international financial journals and institutions.

The minister also discussed the government’s efforts to promote trade and investment with friendly countries, emphasising that Pakistan now seeks trade partnerships rather than aid.

In response to a question about the proposed defamation law, Tarar explained that the law is intended for all citizens and aims to address flaws in the existing legislation, ensuring timely resolution of cases. He called for broad consultations with all stakeholders to finalise new legislation on defamation, which would be beneficial for both the country and society.

This initiative by the SIFC to establish dedicated desks for key regions is expected to enhance Pakistan’s attractiveness as an investment destination, supporting economic growth and development.