Pakistan’s Economy Witnessing Stabilization Under SIFC.

Pakistan: Pakistan's economy is witnessing stabilization due to various agreements with China and the facilitation by Special Investment Facilitation Council (SIFC). According to Radio Pakistan, the promotion of foreign investment for the revival of the country's economy is one of the main objectives and priorities of the SIFC. In this regard, several agreements regarding CPEC and Memorandums of Understanding with China reflect the growing confidence of foreign investors in Pakistan. Recently, Pakistan hosted the Shanghai Cooperation Organization Summit in which leaders and delegates of other countries as well as Chinese Premier visited Pakistan. During the Chinese premier's visit, key Memorandums of Agreement were exchanged between the two countries, including an investment of 6.8 billion dollars for the ML-1 Railway project, which will be completed in three phases. A motorway project from Sukkur to Hyderabad and a road project on the Karakoram Highway are also included. With the cooperation of SIFC, Memo randums of Understanding were also exchanged between the two countries on cooperation in other fields including food security, health, and education. Apart from this, MoUs were signed between Pakistan and China on currency exchange, which was agreed between the State Bank of Pakistan and the People's Bank of China. The Prime Ministers of Pakistan and China also inaugurated the Gwadar International Airport under the CPEC.