Seven desks established under SIFC to attract foreign investment

ISLAMABAD: Minister for Information and Broadcasting Attaullah Tarar has asserted that seven desks have been established under Special Investment Facilitation Council (SIFC) to attract foreign investment, ARY News reported on Modnay.

Addressing a press conference, the information minister said that the seven desks, established for China, Qatar, UAE, Saudi Arabia, European Union, United States and the Far East, would focus on bringing foreign investment to Pakistan.

He said that the official press agency of the UAE released the news of the allocation of $10 billion which meant they had set aside the specific amount for investment in Pakistan.

Significant progress had been made in the investment negotiations of $5 billion with Saudi Arabia, he said, adding that soon the agreements would be signed.

The Prime Minister, he said, would leave on important visit to China in the next few days and the concerns regarding the Chinese citizens will be addressed, besides holding discussions to take forward the CPEC and other bilateral projects during this visit.

In response to a question, Attaullah Tarar said that a convicted person in prison could not digest and acknowledge multiple achievements of current government on diplomatic front and initiatives for the development of the country.

“Definitely, there is a sinister plan to compare the current situation with that of 1971 but theses tactics are doomed to fail; InshaAllah, Pakistan will remain on the map of the world and make march towards progress and prosperity”, he said.

Read More: PM Shehbaz hails SIFC’s role in national prosperity, urges for collective efforts

He said during the tenure of the present elected government, by the grace of Allah Almighty, Pakistan had achieved many milestones on the diplomatic front.

“The Prime Minister had a telephonic conversation with the Prime Ministers of Norway and Ireland in the backdrop of their strong stance on Middle East situation”, he remarked.

He said Prime Minister Shehbaz Sharif had telephonically contacted the prime ministers of Norway and Ireland who had condemned the ongoing atrocities in Gaza and Rafah and called fort immediate for ceasefire.

Attaullah Tarar said that PM Shehbaz Sharif informed the two Prime Ministers about Pakistan’s position on the situation.

“Pakistan has always raised its voice for the rights of Palestinians,” he said adding PM Shehbaz Sharif during his address to UN General Assembly had stated categorically that Pakistan will continue to raise its voice for the cause of Palestinians.

Tarar said the Prime Minister had been raising voice for Palestine at every international forum and calling for urgent steps for a lasting solution to the Palestinian issue.

The minister said Pakistan was striving to promote trade and investment with friendly countries as it wanted trade and not aid now.

About the economy, he said during the past few months, current account deficit had reduced, information technology related exports had increased, in addition to bringing down inflation to17 per cent. He said that foreign exchange reserves had also increased which was a positive development.

“Economy is stabilizing and international financial journals and institutions are indicating that Pakistan’s economy is on the path of revival “. He said that the PDM government had made strenuous efforts to avoid default.

To a question about proposed defamation law, Attaullah Tarar said these were enacted for every citizen and not for the state. He said existing laws had specific flaws and cases could not be decided for decades.

He said wide ranging consultations should be held and all stake-holders should give their input for finalisation of new legislation on defamation which was in the interest of the country and the society.