Pakistan has developed an investment pipeline of about $40 billion across 38 projects, including a proposed $6 billion refinery investment programme, as the Special Investment Facilitation Council steps up efforts to attract capital from China, Qatar, Kuwait and other foreign investors, the Senate was told on Thursday.

The projects span mining, industry, railways, roads, maritime affairs, power, information technology, pharmaceuticals, health, tourism and food security, officials of the Special Investment Facilitation Council (SIFC) told the Senate Standing Committee on Cabinet Secretariat. The committee was also informed that the Brownfield Refinery Policy has been approved, with five refineries signing implementation agreements involving proposed investments of about $6 billion, marking one of the most significant components of Pakistan's foreign investment drive.

SIFC officials said the council is engaging Chinese companies as well as investors from Qatar and Kuwait to facilitate investment in key sectors. Measures include streamlined regulatory procedures, improved visa facilitation and single-window services aimed at cutting delays that have historically discouraged investors.

Chairman Senator Rana Mehmood ul Hassan said obtaining no-objection certificates has previously been a major hurdle for investors but that the situation had improved following SIFC intervention. He called for further simplification of procedures and a reduction in the regulatory burden.

Senator Saadia Abbasi questioned the effectiveness of bureaucratic reforms and sought details of the incentives being offered to attract foreign investment, saying responsibility for administrative inefficiency ultimately rested with the government leadership. Senator Mohammad Abdul Qadir warned that Pakistan's high cost of doing business, particularly expensive energy and financing, is undermining its competitiveness against regional economies.

He also raised concerns over multiple regulatory requirements, tax notices, profit repatriation and competition from smuggled goods. He called for a coordinated relief mechanism involving the government and State Bank of Pakistan to improve investor confidence and protect existing and prospective investments across the country.

SIFC officials cautioned that disruptions to regional trade and business, including developments linked to the US-Iran conflict, were making it difficult to provide reliable projections of investment flows and final investment figures at this stage. The committee separately reviewed the power sector, with senior National Electric Power Regulatory Authority officials briefing members on independent power producers, capacity utilisation, tariffs and capacity payments.

Nepra officials said some power plants had operated below a 50 per cent capacity factor, largely because of fluctuations in grid demand, but no plant had recorded zero generation. The committee deferred consideration of a bill because Minister-in-Charge Ahad Cheema was absent.

A briefing by the chairman of the National Anti-Money Laundering and Countering the Financing of Terrorism Authority was also deferred. The meeting was attended by the Cabinet Division secretary and senior officials from SIFC, Nepra and relevant ministries and departments.