PM terms promotion of foreign investment as govt’s top priority

Islamabad: Prime Minister Shehbaz Sharif on Tuesday termed promotion of foreign investment as top priority of the government in order to turn challenges into opportunities.

Chairing a high-level meeting on foreign investment in Islamabad on Tuesday, he assured investors of provision of every possible facility, and emphasized the establishment of special cells at the Federal Ministries for innovation and research related to investment.

The session reviewed agreements and memoranda of understanding with Gulf countries under the Special Investment Facilitation Council.

The Prime Minister's directed the authorities concerned to conduct feasibility studies for projects attracting investors and to seek the services of international experts with renowned expertise in this regard. He emphasized that no compromise should be made on the standards of projects proposed for investment.

Furthermore, the Prime Minister instructed all ministries to enhance their relations with Gulf countries regarding the progress of respective memoranda of understanding, aiming for further improvement.

He directed that all necessary requirements for investment in projects related to solar energy in Multan, Layyah, and Jhang should be fulfilled.

Additionally, feasibility studies should be conducted for the railway connectivity from Reko Diq to Gwadar Port, and initiatives should be taken for external investment in projects like Chiniot Iron and Iron Ore plants, starting work on the railway line for access to Thar Coal Power Plants.

The meeting was informed that dredging work at Gwadar Port has been completed, enabling large ships to anchor there. It was also mentioned that substantial investment is expected from Gulf countries, particularly in renewable energy, oil refining, mining, food preservation, banking and financial services, logistics, water supply, and waste management sectors.

Beside others, Federal Minister for Maritime Affairs Qasim Ahmed Sheikh, Federal Minister for Power Ovais Ahmed Leghari, Federal Minister for Economic Affairs Ahad Khan Cheema, Special Assistant to the Prime Minister Tariq Fatemi, Member of the National Assembly Bilal Azhar Kiyani, and relevant senior government officials attended the meeting.