FO urges diplomatic missions to promote investment in Pakistan

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The Foreign Office (FO) has called upon diplomatic missions in Islamabad to inform and encourage their respective nations to take advantage of Pakistan’s abundant resources, with the aim of attracting foreign investments into the country.

This appeal came shortly after caretaker Prime Minister Anwaarul Haq Kakar instructed relevant authorities to expedite the realization of identified projects under the Special Investment Facilitation Council (SIFC).

The SIFC, established in June by the previous PML-N-led government, was tasked with formulating economic policies to ensure policy predictability, continuity, and effective implementation for economic revitalization.

The former Prime Minister, Shehbaz Sharif, had emphasized the council’s objective to attract investments from friendly nations, with an immediate target of increasing foreign direct investment (FDI) to $5 billion.

In July, the previous cabinet approved several initiatives, including proposed legislative amendments to the Investment Board Ordinance, to empower the SIFC in facilitating foreign investments.

Today, a briefing session was organized by Foreign Secretary Syrus Sajjad Qazi at the Ministry of Foreign Affairs (MoFA) for resident diplomatic missions in Islamabad.

According to an FO press release, participating diplomatic missions were urged to educate and encourage their countries to explore the investment potential in Pakistan, highlighting the country’s resource-rich nature.

During the meeting, Dr. Jehanzeb Khan, Special Assistant to the Prime Minister on Government Effectiveness, delivered a comprehensive presentation outlining the establishment and various aspects of the SIFC.

The FO noted that Dr. Khan emphasized investment opportunities in Pakistan in four key sectors: information technology, agriculture, energy, and mining.

The FO highlighted that the SIFC, as a newly formed entity, serves as a “One-Window” platform designed to expedite decision-making and promote as well as facilitate foreign direct investment in Pakistan. The briefing session was also attended by senior MoFA officials.