Pakistan has adverse trade balance with Kuwait mainly on account of oil imports. However, it is slowly moving in Pakistan’s favour. Pakistan’s total exports to Kuwait in 2022-23 are US$ 127.44 Million. Pakistan mainly exports Bovine Meat, Non Fillet Fresh Fish, Rice, Cereal Straws, Bran and House Linen to Kuwait. Whereas total imports from Kuwait in 2022-23 are US$ 2.5 Billion including Refined/Crude Petroleum, Scrap Iron, Chemicals (Acyclic Alcohols, Cyclic Hydrocarbons, Propylene Polymers etc).
Sixteen (16) direct flights operate per week between the two countries out of which only 2 belong to Pakistan International Airline, while the remaining 14 are operated by Kuwait-based Companies i.e. Kuwait Airways and Jazeera Airways.
Pakistan Kuwait Investment Company (PKIC) is a financial institution engaged in investment and development banking activities in Pakistan. It is a joint venture between the Governments of Pakistan and Kuwait and was established in 1979 with a paid-up capital of 62 million Pak Rupees. Over the years, paid up capital increased to PKR 16 billion while currently the total equity stands at PKR 49.94 billion, reflecting upon company’s impressive performance since inception. Its investments and projects in Pakistan, include Meezan Bank Limited; Al-Meezan Investment Management Limited and National Clearing Company of Pakistan Limited etc. the company has grown over the years and owns assets worth more than 25 billion rupees in Pakistan.
EnerTech Holding Co. is the subsidiary of National Technology Enterprises Company (NTEC which in turn is a subsidiary of Kuwait Investment Authority, the country’s Sovereign Wealth Fund). It is dedicated to projects in energy, clean technology, recycling and water waste management. A concession agreement between this company and Sindh government worth $ 190 million for "Nabisar-Vagihar water supply project" in Thar, Sindh was signed On 25 June 2021. 500 MW solar power plant in Baluchistan, supply of clean water from Tarbela dam to Islamabad, and production plant for hydrogen and Amonia to be used in fertilizers are in pipeline according to a briefing received from the company.
A set of seven MoUs was recently signed between various Government Ministries and Enertech in specific sectors, including water supply, development of special technology zone in Islamabad, development of mangroves rehabilitation project, food security, investment in Ghazi-Brotha Hydro Electric project and establishment of a fund for exploration of copper and rare earth metals in Pakistan.
KUFPEC has been present in Pakistan since 1987 and has invested around US$ 1 billion to make Pakistan a core business centre for the company. It is subsidiary of Kuwait Petroleum Corporation (KPC) . KUFPEC has working interests in Qadirpur (13.25%), Bhit/Badhra (34%), Kadanwari (15.79%), and Zamzama (9.375%) gas fields, where gas fields are operated by OGDCL, Eni Pakistan, and Orient Petroleum Pvt. Limited, respectively. KUFPEC is an operator of Makhad Block with 82.5% working interest.
The Kuwait Fund for Arab Economic Development (KFAED) has financed projects worth US$ 426 million in the water conservation energy and social sector of Pakistan since 1977. The highest loan of US$ 48.20 million (KD 14.3 million) has been given for the social sector.
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