ISLAMABAD: The Special Investment Facilitation Council (SIFC) has requested that the Power Division present a list of ten investible projects by October 31, 2024, for potential investment from Saudi Arabia, following the recent visit of Saudi Investment Minister Khalid bin Abdulaziz Al-Falih and a delegation of over 30 Saudi companies.
Amid economic challenges like a high import bill and foreign exchange shortages, SIFC underscores the importance of establishing an investment-ready project pipeline to boost industrial growth, job creation, and exports. Prime Minister Shehbaz Sharif has stressed the need for foreign investment to stabilize Pakistan’s economy, engaging friendly countries in the effort.
SIFC has outlined priority areas for the projects, which should feature clear financial models and capital structuring:
Smart grids to improve distribution efficiency.
High-capacity transmission lines to link power generation areas to urban centers.
Substation upgrades with technology aimed at minimizing transmission losses.
Large-scale Battery Energy Storage Systems (BESS) to stabilize energy supply.
Projects must align with government industrialization incentives under STZ, SEZ, and EPZ programs. Additionally, consultations with the private sector and Public Private Partnership Authority (P3A) are encouraged for potential B2B opportunities.
This initiative follows the recent signing of 27 Memoranda of Understanding between Pakistan and Saudi Arabia, valued at $2.2 billion, covering diverse sectors like industry, agriculture, IT, energy, and healthcare. Prime Minister Sharif affirmed Pakistan’s commitment to swift, transparent implementation of these agreements.
Story by Mushtaq Ghumman
