Bad news for Pakistan over Gaza Israel conflict
The National Coordinator for the Special Investment Facilitation Council (SIFC), Dr. Muhammad Jahanzeb Khan, has voiced apprehension regarding the delay in investments from Middle Eastern countries in Pakistan. He attributes this delay to the ongoing conflict in Gaza.
According to him, Middle Eastern countries have shifted their attention towards the Gaza situation, potentially causing a delay in the proposed investments from the Gulf Cooperation Council (GCC). This concern was communicated to the media during a briefing.
During the briefing, Dr. Jahanzeb emphasized that the current focus of Middle Eastern countries on the Gaza situation might impact the timelines for the proposed investments from the GCC countries.
He revealed that the establishment of the SIFC was based on recommendations from GCC countries, with the aim of streamlining investment processes. He highlighted a shift from short-term loans to government funding in order to encourage investments in funds.
Moving on to other developments, it was discussed that the Cabinet is likely to expand the list of countries on Pakistan's business visa list. This could potentially open up new avenues for business and trade.
In a separate meeting with the International Monetary Fund (IMF), Dr. Jahanzeb briefed on SIFC's role, portraying it as a supportive body that provides backup to various ministries. However, the IMF expressed concerns about Pakistan granting special tax incentives and preferential treatment to certain countries.
Shifting the focus to Pakistan-China relations, the Special Assistant to the Prime Minister (SAPM) reassured that China remains a longstanding ally. Despite some issues, he affirmed that the relationship between the two countries is still strong.
Specifically addressing concerns, he mentioned that while China might have issues with the Pakistani government over pending dues of Multan-Sukkar Motorway and some payments of power projects, both parties are committed to resolving these matters mutually.