Islamabad, November 17, 2023 – Caretaker Prime Minister Anwaar-ul-Haq Kakar chaired the 7th meeting of the Apex Committee of the Special Investment Facilitation Council (SIFC) on Thursday, directing all stakeholders to actively pursue SIFC’s initiatives through collaboration for short to medium-term gains and laying the groundwork for long-term endeavors in the national interest.
The meeting brought together key figures, including the Chief of Army Staff, members of the federal cabinet, provincial chief ministers, and high-level government officials, to review various initiatives led by the SIFC forum, according to a press release from the Prime Minister’s Office.
Ministries presented progress reports on projects identified in crucial sectors and outlined plans to enhance the ecosystem, ensuring timely realization of the envisaged investments. The committee expressed overall satisfaction with the progress under SIFC, acknowledging increased engagement with friendly countries and proactive strategies to involve the investor community, resulting in heightened traction and approvals on both domestic and global fronts.
Policy level interventions to boost investor confidence were approved during the meeting. These included measures for profit repatriation, strengthening domestic dispute resolution mechanisms, infrastructural and human resource development, and the prompt operationalization of the EXIM Bank.
A comprehensive strategy to address oil and gas issues sustainably through investments in relevant industries was directed, highlighting the committee’s commitment to addressing crucial sectors.
Progress on the privatization of State-Owned Enterprises (SOEs) was reviewed and appreciated, with the committee urging a swift continuation of the privatization process. The Chief of Army Staff reaffirmed the unwavering commitment of the Pakistan Army to support government initiatives across various domains for the sustainable recovery of the economy.
The collaborative efforts of the SIFC and the commitment of all stakeholders indicate a concerted drive towards economic growth, creating an environment conducive to both domestic and international investments.
