The Special Investment Facilitation Council (SIFC) has urged Pakistan’s Power Division to prepare a selection of ten viable investment projects for Saudi interest by October 31 to present to Saudi investors during Prime Minister Shehbaz Sharif’s visit to Saudi Arabia, where he will participate in the 8th Future Investment Initiative (FII) in Riyadh.
The SIFC has directed that the proposed projects focus on the modernization of Pakistan’s energy infrastructure and prioritize commercially ready initiatives rather than conceptual ideas. This includes developments such as smart grids, high-capacity transmission networks, advanced substations, and expansive Battery Energy Storage Systems (BESS). By enhancing power infrastructure, Pakistan seeks to drive industrialization, boost exports, and create employment opportunities, which are essential to long-term economic growth.
To ensure the projects attract Saudi investors, the SIFC has emphasized the importance of clear financial and business models, coupled with structured capital backing.
Additionally, the projects should benefit from government incentives linked to Special Technology Zones (STZ), Special Economic Zones (SEZ), and Export Processing Zones (EPZ), enhancing their potential appeal and competitiveness.
Further extending the investment portfolio, the SIFC has encouraged the Power Division to collaborate with private enterprises to produce an additional list of five business-to-business (B2B) project proposals.
The Public Private Partnership Authority (P3A) and external consultants will assist in finalizing these initiatives, a part of a broader strategy that has recently seen Pakistan and Saudi Arabia signing 27 Memoranda of Understanding worth $2.2 billion, encompassing sectors from energy to industry.
The aim is to attract foreign investment crucial for Pakistan’s economic stability amidst high import expenses and low foreign exchange reserves, which have placed the country under severe financial strain.
Ahead of the FII, the Ministry of Foreign Affairs highlighted the significance of the event, stating, “The FII serves as an important platform for countries to showcase their economic strength, draw foreign investments, and engage in dialogue to shape a sustainable future.” This year’s forum, themed “Infinite Horizons: Investing Today, Shaping Tomorrow,” will spotlight global investments across diverse sectors, including artificial intelligence, energy, finance, space, and healthcare.
During his visit, PM Shehbaz Sharif will engage in key bilateral discussions with Saudi Crown Prince and Prime Minister Mohammed bin Salman and other senior officials. “The two sides will discuss the economic and strategic partnership between Pakistan and the Kingdom of Saudi Arabia and explore bilateral cooperation in the economic, energy, and defense domains,” the Ministry noted.
PM Shehbaz has assured swift implementation of all agreements, promising a streamlined, bureaucracy-free process to expedite development and secure further investment from Saudi Arabia.