A joint civil-military effort, Pakistan’s Special Investment Facilitation Council (SIFC) has approved 28 major investment projects with a combined value of more than $28 billion in an effort to entice investors from Gulf states including Bahrain, Qatar, Saudi Arabia, and the United Arab Emirates.
Key Projects:
- Diamer-Bhasha Dam: A major hydropower project intended to enhance water storage and energy production.
- Reko Diq Mining Operations: Copper and gold extraction ventures in Balochistan’s Chagai district.
- Saudi Aramco Refinery: A proposed $10 billion oil refinery project.
- Thar Coal Rail Connectivity: Initiatives to improve transportation infrastructure for coal resources.
- Corporate Farming in Cholistan: Development of large-scale cattle farms in the Cholistan desert.
These initiatives cover a wide range of industries, from food and agriculture to IT, mining, petroleum, and energy. Pakistan has amended its laws, including the Pakistan Army Act, the BOI Ordinance, and the Election Act, to make it easier for these investments to take place. These revisions offer legal protection to SIFC’s operations and guarantee project continuance during caretaker governments.
Also, in order to give equity funding for projects that have been approved by the SIFC, Pakistan intends to establish a Sovereign Wealth Fund, which will combine assets from seven successful public sector firms. Pakistan is determined to attract international investment and boost its economy, and the authorised projects are anticipated to attract more investment than the China-Pakistan Economic Corridor (CPEC).
