ISLAMABAD, JULY13: The Special Investment Facilitation Council (SIFC) of Pakistan and the Emirati consulting firm AT Kearney Middle East Limited inked a deal to encourage foreign investment in the nation’s various sectors. Pakistani state media reported on Saturday,In an effort to draw foreign direct investment into the fields of energy, mining, information technology, defense industry, and agriculture, Islamabad formed the SiFC, a civil-military hybrid forum, in June of last year.The SIFC national coordinator met in-depth with a group of AT Kearney and Pakistan’s Public-Private Partnership Authority representatives to go over the cooperation roadmap, according to a report by Radio Pakistan.
The report stated, “To encourage foreign investment, the UAE company will offer expertise over a period of eighteen months focusing on a number of key areas.The agreement includes pre-feasibility studies for selected projects and strategies for attracting investment in key sectors.”The event occurs while Pakistan, which has been dealing with low foreign exchange reserves, currency depreciation, and rising inflation, is pushing for foreign investment.The South Asian nation, whose $350 billion shaky economy needs support, has reached a $7 billion loan agreement with the International Monetary Fund (IMF) in an attempt to increase foreign investment.
