Pakistan and Kuwait will soon sign seven memorandums of understanding (MoUs) for $10 billion in investments in Pakistan through seven projects spanning the environment, mining, and food security.
Pakistan and Kuwait To Sign $10 Billion MoUs
In this regard, the federal cabinet approved seven memorandums of understanding (MoUs) will sign during caretaker Prime Minister Anwaarul Haq Kakar’s upcoming visit to Kuwait on Friday.
Following the efforts of the Special Investment Facilitation Council (SIFC), both countries will sign MoUs on a variety of projects, including the expansion of water reservoirs, mining facilities, coastal mangrove forest conservation, information technology, and food security, according to a statement from the Prime Minister’s Office.
The prime minister, who presided over the meeting, directed that cooperation with the provinces must ensure in order for the projects to complete on time and fairly with Kuwait.
The Cabinet Committee for the Disposal of Legislative Cases, which met on November 14, and the Economic Coordination Committee, which met on November 15, also endorsed by the body.
SIFC Meeting
The caretaker prime minister also presided over a special session of the SIFC apex committee, attended by relevant ministers, COAS Gen. Asim Munir, and senior officials.
According to a statement from the Prime Minister’s Office, the special session was held to foster strategic partnerships with friendly countries.
The committee reviewed the current level of collaboration and unanimously approved various initiatives to be discussed with friendly countries like Kuwait and Saudi Arabia, as well as directed that various projects conceived under these initiatives be implemented as soon as possible.
The PM commended relevant ministries for identifying potential areas of collaboration and directed all stakeholders to realize the anticipated long-term economic dividends.
The COAS reaffirmed the Pakistan Army’s unwavering commitment to supporting the government’s economic initiatives.
Pakistan and Saudi Arabia Relations
Earlier, Prime Minister Kakar stated that Saudi Arabia has always stood by Pakistan in difficult times, providing assistance in a variety of fields.
The prime minister told Imam-i-Kaaba Dr Sheikh Saleh bin Abdullah bin Humaid on Friday that Pakistan and Saudi Arabia had a strong historical relationship based on religious, values, and traditions.
PM Kakar thanked Saudi Arabia for its development assistance to Pakistan in the fields of education and health.
He also emphasized the Saudi government’s exceptional support for the Pakistani workforce in the kingdom.
The prime minister emphasized that the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and Crown Prince Mohammed bin Salman recently expressed unconditional support for the Palestinians by convening an emergency session of the OIC.
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