PM Kakar Confident About Saudi Investment in Reko Diq

Caretaker Prime Minister Anwaarul Haq Kakar expressed his optimism regarding a potential agreement with Saudi Arabia concerning a stake in the Reko Diq project by December.

In an interview with Arab News, Kakar welcomed the Saudi offer and noted that negotiations were currently in progress with all involved parties. He conveyed his hope that the Kingdom might also engage in other projects.

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Switching topics, Kakar expressed his confidence in the Special Investment Facilitation Council (SIFC) as a catalyst for attracting over $60 billion in investments within the next five years. He highlighted the SIFC’s role as a comprehensive resource for addressing concerns raised by international investors.

Kakar mentioned that obstacles related to the repatriation of funds by foreign investors had been resolved, and rigid adherence to bureaucratic procedures had been streamlined. He emphasized that the primary purpose of the SIFC platform was to facilitate this and underscored the commitment to eliminate all barriers to foreign investment in Pakistan within a 15-day timeframe. Kakar also mentioned the development of a dispute resolution system under the purview of the SIFC that would be acceptable to all parties involved.