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Pakistan, Kuwait to seal $10bn investment deal

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Pakistan and Kuwait are on the verge of finalizing seven memorandums of understanding (MoUs) to funnel a whopping $10 billion into Pakistan through seven diverse projects spanning environment, mining, and food security.

The federal cabinet greenlit these MoUs during its recent meeting, paving the way for their formalization during the upcoming visit of interim Prime Minister Anwaarul Haq Kakar to Kuwait.

These MoUs, orchestrated through the efforts of the Special Investment Facilitation Council (SIFC), encompass a spectrum of projects, including the expansion of water reservoirs, advancements in mining facilities, conservation of vital mangrove forests along the coast, developments in information technology, and bolstering food security, as stated by the PM Office.

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Acknowledging the efforts of the SIFC and relevant ministries, PM Kakar and cabinet members hailed these endeavors during their meeting.

The PM emphasized collaboration with provinces to ensure swift and equitable execution of these projects.

A special session of the SIFC apex committee, chaired by the caretaker prime minister and attended by relevant ministers, the Chief of Army Staff (COAS) Gen Syed Asim Munir, and senior officials, aimed at nurturing strategic partnerships with friendly nations, according to the PM Office.

The committee not only assessed the current collaborations but also unanimously sanctioned various initiatives to propose to friendly countries, urging accelerated implementation of envisaged projects.

PM Kakar praised the pertinent ministries for identifying potential areas of collaboration and urged all stakeholders to aim for long-term economic gains.

The COAS affirmed Pakistan Army’s steadfast commitment to supporting government-led economic initiatives.

Highlighting the enduring bond between Pakistan and Saudi Arabia based on shared religious, cultural, and traditional ties, PM Kakar expressed gratitude for Saudi Arabia’s consistent support across various domains.

During a meeting with Imam-i-Kaaba Dr Sheikh Saleh bin Abdullah bin Humaid, PM Kakar acknowledged Saudi Arabia’s developmental assistance in education and health sectors and lauded its support for the Pakistani workforce in the kingdom.

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The prime minister commended the recent unconditional backing extended by King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman to Palestinians in an emergency OIC session.

Expressing condemnation for atrocities against Palestinians and advocating for humanitarian aid to Gaza, PM Kakar emphasized educating youth about Islamic teachings and history through documentaries to combat Islamophobia.

The Imam-i-Kaaba hailed the brotherly relationship between Pakistan and Saudi Arabia, praising the Pakistani diaspora’s contributions to Saudi Arabia’s progress. He underscored the importance of nurturing younger generations in line with Islamic teachings.

Grateful for the hospitality during his visit, the Imam-i-Kaaba thanked Pakistan. The meeting was attended by interim federal ministers Aneeq Ahmed and Madad Ali Sindhi, PM’s Special Assistant Tahir Ashrafi, and Saudi Ambassador Nawaf bin Said Al-Malki.


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