PM Shehbaz says promotion of foreign direct investment top priority of his govt
Business
Instructs ministries to enhance contact with Gulf countries regarding progress on respective MoUs
ISLAMABAD (Dunya News) – Prime Minister Shehbaz Sharif stated on Tuesday that promoting foreign direct investment (FDI) in the country to transform challenges into opportunities was the top priority of his government.
The premier expressed these views during a meeting held to review progress on foreign investment. The meeting reviewed the progress on the memoranda of understanding (MoUs) and agreements with Gulf countries under the Special Investment Facilitation Council (SIFC).
PM Shehbaz, while addressing the meeting participants, assured them that all possible facilities would be provided to investors. He added that special cells within federal ministries would be established to promote innovation and research in the investment sector. He highlighted that the establishment of SIFC had helped restore investors’ confidence.
PM Shehbaz directed the initiation of a feasibility study for projects with the potential to attract investors, and emphasised seeking the services of internationally recognised experts in this regard. He stressed that there should be no compromise on the quality of projects proposed for investment.
The premier also instructed all ministries to enhance their relations with Gulf countries regarding progress on their respective MoUs.
He underscored the fulfillment of all necessary requirements concerning foreign investment in solar energy projects in Muzaffargarh, Layyah and Jhang.
PM Shehbaz further called for a feasibility study on railway connectivity from Reko Diq to Gwadar seaport, and urged the initiation of work on the railway line to access Thar coal power plants. He also directed steps to be taken regarding foreign investment in the Chiniot iron project.
The meeting was informed that the dredging work of the Gwadar Port had been completed, enabling the anchoring of large ships there.
It was also mentioned that substantial investment was expected from Gulf countries in various sectors, including renewable energy, oil refining, mining, food security, banking and financial services, logistics, water supply and waste management.
Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister for Power Awais Ahmed Khan Leghari, Minister for Economic Affairs Ahad Khan Cheema, Special Assistant to Prime Minister Tariq Fatemi, MNA Bilal Azhar Kayani, and other senior officials attended the meeting.
Those who participated via video link included Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Petroleum Minister Musadik Malik and Minister of State for Information Technology Shaza Fatima Khawaja.
