Photo courtesy PID
Interim Prime Minister Anwaarul Haq Kakar on Thursday directed all stakeholders to pursue initiatives launched under the Special Investment Facilitation Council (SIFC) through a collaborative approach to reap dividends in the short to medium terms.
Chairing the 7th meeting of the Apex Committee of the SIFC in Islamabad, he said processes should also be initiated for long-term endeavors in the larger national interest. According to a statement issued by the Prime Minister’s Office, the meeting reviewed various initiatives undertaken through the SIFC forum, with various ministries presenting progress on projects identified in key sectors. The officials also presented plans to further improve the ecosystem for realizing envisaged investments in a timely manner.
Reviewing the plans, the Apex Committee expressed satisfaction at the overall progress; appreciated the enhancing level of engagements—both public and private entities—with friendly countries; and the outreach strategy aimed at proactively engaging investors’ community. This, per the statement, was translating into enhanced traction and approvals at domestic and global stages.
The SIFC meeting also reviewed progress on various measures undertaken to improve the investment climate and approved policy level interventions to further improve investors’ confidence, including the repatriation of profits, strengthening domestic dispute resolution mechanism, infrastructural and human resource development, and speedy operationalization of the EXIM Bank.
The committee also directed relevant authorities to devise a comprehensive strategy to address oil and gas issues in a sustainable manner by investing in appropriate industries. It further reviewed and appreciated the progress on privatization of state-owned enterprises and directed the process to continue at an expedited rate.
During the meeting, per the statement, Pakistan Army chief Gen. Asim Munir reassured the government of the military’s undaunted resolve to support the government in its drive to ensure a sustainable recovery of the economy.
Apart from the Army chief and prime minister, members of the federal cabinet, provincial chief ministers and high-level government officials also attended the meeting.