ISLAMABAD – The Special Investment Facilitation Council (SIFC), a collaborative civil-military forum, has sanctioned 28 significant investment projects worth billions of dollars. These ventures, offered to Gulf nations, encompass the construction of the Diamer-Bhasha Dam and mining activities at Reko Diq in Balochistan’s Chagai district.
If nations like Qatar, Saudi Arabia, the UAE, and Bahrain participate in these projects, the total investment through SIFC could exceed $28 billion, surpassing the investment under the China-Pakistan Economic Corridor (CPEC). The projects span multiple sectors, including food, agriculture, IT, minerals, petroleum, and energy. Notable projects include large-scale cattle farms, the $10 billion Saudi Aramco refinery, and the Thar Coal rail connectivity scheme.
China has also been extended an investment opportunity in the Diamer-Bhasha Dam under CPEC. To facilitate these projects’ smooth execution, the parliament has amended the Pakistan Army Act and the Board of Investment (BOI) Ordinance, granting legal protection to SIFC’s work. The amendments to the Election Act ensure these projects’ continuity even during a caretaker government.
Additionally, the government is introducing a Pakistan Sovereign Wealth Fund to provide equity capital to SIFC-approved projects, pooling assets from seven for-profit public sector enterprises.
The SIFC has been empowered with extensive authority to attract and facilitate foreign investment, marking a significant step toward bolstering Pakistan’s economic landscape.
