ISLAMABAD: A meeting of the caretaker federal cabinet has approved seven memorandum of understanding (MoUs) for investment between Pakistan and Kuwait, which will be signed during the prime minister’s visit to the Gulf country.

The federal cabinet meeting held under the chairmanship of Caretaker Prime Minister Anwaarul Haq Kakar, on Friday, was told that as a result of the efforts of the Special Investment Facilitation Council (SIFC), Kuwait will sign MoUs to make an investment of $10 billion in seven projects in different sectors in Pakistan.

These projects include the expansion of water reservoirs, mining facilities, protection and expansion of mangrove forests for coastal areas, investment projects in the information technology (IT) sector, and food security projects.

Managing public investment the mission-oriented way

The caretaker prime minister and the federal cabinet appreciated the efforts of the SIFC and the relevant ministries in this regard.

Kakar directed that cooperation with the provinces should be ensured in these MoUs signed at the federal level so that these projects can be completed quickly and transparently.

The caretaker federal cabinet also approved the decisions taken in the Cabinet Committee on Legislative Affairs (CCLC) meeting held on November 14, 2023.

The federal cabinet also approved the decisions taken in the Economic Coordination Committee (ECC) meeting held on November 15, 2023.

Copyright Business Recorder, 2023