PM Kakar Chairs SIFC Apex Committee Meeting to Review Progress on Key Projects

Wed Jan 03 2024
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ISLAMABAD: The 8th meeting of the Apex Committee of the Special Investment Facilitation Council (SIFC), mandated to frame economic policies and bring foreign investment, met on Wednesday to review various projects and initiatives under the SIFC platform.

Chaired by Caretaker Prime Minister Anwaar-ul-Haq Kakar, the meeting was attended by the Chief of Army Staff (COAS) General Syed Asim Munir, members of the Federal Cabinet, Provincial Chief Ministers, and senior government officials.

Federal Ministries briefed the Committee on the progress of projects in key sectors and outlined plans for the timely realization of expected investments.

The Committee expressed satisfaction with the overall progress achieved in key sectors through the SIFC and commended the increasing economic engagements with friendly countries. This included the finalization of the Bilateral Investment Treaty with the Kingdom of Saudi Arabia and Qatar, along with the signing of Memorandum of Understanding (MoUs) and Framework Agreements with the United Arab Emirates and the State of Kuwait, respectively. The Committee directed the conversion of these commitments into tangible economic outcomes swiftly.

SIFC Apex Committee Discusses Bilateral Investment Treaties 

The progress on the privatization of various entities was also reviewed, and the collaborative approach of stakeholders in meeting critical benchmarks was appreciated. The Committee instructed the maintenance of this momentum.

Various measures to enhance the investment climate were discussed, leading to the approval of policy-level interventions to further facilitate investors, including the strengthening of domestic dispute resolution mechanisms.

Consensus was reached on expediting infrastructural development to support investors, particularly in remote areas.

The Committee lauded the inclusive approach to human resource development, supporting emerging needs in key economic sectors.

Expressing a firm resolve, the Committee pledged to take action against smugglers, hoarders, and market manipulators, aiming to rectify economic imbalances and provide immediate relief to citizens.

The Chief of Army Staff affirmed the unwavering support of the Pakistan Army for government initiatives focused on the country’s economic recovery.

The Prime Minister directed all stakeholders to vigorously pursue SIFC initiatives for their timely accomplishment.

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