Islamabad, Aug 28: The Special Investment Facilitation Council (SIFC), a hybrid civil-military organization established last year to encourage foreign investment in Pakistan, particularly from Gulf countries, was extended an invitation by Islamabad on Tuesday to Oman to invest in its agriculture, mining, and IT sectors.
As the government gets ready to sign a new $7 billion International Monetary Fund agreement, which is awaiting approval by the lender’s executive board, Pakistan is concentrating on meeting its external financing needs by corresponding with foreign governments and lenders to attract investment as well as looking for loan rollovers to avoid default.
Pakistan took part in the ninth session of the Pakistan-Oman Bilateral Political Consultations, which was held in Muscat, Oman, today, Tuesday, as part of an effort to seek foreign investment.During the summit, the two sides “comprehensively” reviewed all facets of bilateral cooperation, including consular matters, political ties, trade and investment, security and defense, culture, and health.
The Pakistani foreign office released a statement saying, “The Omani side was invited to invest in agriculture, minerals, and information technology under the Special Investment Facilitation Council.” The parties decided to hold the eighth session of the Joint Ministerial Commission in Islamabad as soon as possible, recognizing its significance. Additionally, the two parties decided to strengthen investment cooperation and increase the volume of bilateral commerce.
According to the foreign office, the Omani side also praised Pakistan’s decision to grant visas on arrival to Omani nationals and expressed support for the First Pakistani Business Expo, which is scheduled to take place in Muscat on October 13–14. An essential means of communication for Pakistan and Oman to assess their bilateral ties and look into potential new areas of collaboration is through bilateral political consultations.
