Pakistan and Kuwait to Sign $25 Million Loan Agreement for Mohmand Dam
Farhat Ali 
Pakistan and Kuwait are set to sign a $25 million loan agreement for the Mohmand Dam on June 3.
This decision was made during the Fifth Joint Ministerial Commission Meeting held in Kuwait on Thursday, co-chaired by Pakistan's Minister of Privatization and Investment Abdul Aleem Khan and Kuwait's Minister of Commerce Omar Saud Al Omar. The high-level event included key ministerial sectors from Pakistan.
During the meeting, Abdul Aleem Khan emphasized the need to ease visa procedures for Pakistanis and invited Kuwaiti investors to explore opportunities within Pakistan's Special Investment Facilitation Council. He highlighted the potential benefits of investing in Pakistan's growing economy.
The commission also discussed the involvement of the Arab Coordination Group in financing the Diamer Bhasha Dam, underscoring the importance of regional cooperation in addressing Pakistan’s energy needs.
Several agreements and memorandums of understanding (MoUs) were signed to foster cooperation in various sectors, including:
- Industry
- Maritime and ports
- Avoidance of double taxation
- Higher education
Additionally, the establishment of joint working groups was agreed upon to enhance collaboration between the two nations.
Abdul Aleem Khan expressed optimism about the significant progress made during the meeting and looked forward to further advancements in the sixth meeting, expected to take place in Islamabad.
In a related development, the federal minister chaired a special meeting in Islamabad on Friday focused on improving the ease of doing business in Pakistan. He directed the Board of Investment to streamline the registration process for new businesses by providing one-window and online facilities. He stressed the importance of removing unnecessary regulations to accelerate investment.
Khan emphasized the need for a clear and efficient Pakistan Business Portal and urged all relevant departments, including the Federal Board of Revenue (FBR) and the Securities and Exchange Commission of Pakistan (SECP), to fully support business startups. He announced plans for a coordinated briefing on ease of doing business to be presented to the prime minister and called for consideration of other models to enhance the business portal.
