ISLAMABAD: Special Investment Facilitation Council convened seventh meeting of its Apex Committee Meeting on Thursday to review various initiatives being led through SIFC forum.
The meeting was chaired by the Caretaker Prime Minister Anwaar-ul-Haq Kakar and attended by Chief of Army Staff General Asim Munir, Federal Cabinet, Provincial Chief Ministers and top-level government officials.
The ministries presented progress on projects identified in important sectors and gave plans to further improve the ecosystem for realizing the envisaged investments in a timely manner.
The Committee expressed its satisfaction on overall progress under the umbrella of SIFC, commended the enhancing level of engagements with friendly nations, both public and private entities, and outreach strategy to proactively engage investor’s community, which is translating in increased traction and approvals at domestic and international stage.
The Committee reviewed progress on various steps undertaken to improve investment climate and approved policy level interventions to further boost investors’ confidence, including repatriation of profits, infrastructural and human resource development, strengthening domestic dispute resolution mechanism, and speedy operationalization of EXIM Bank.
Committee for comprehensive strategy to address oil, gas issues
The Committee also directed to devise a comprehensive strategy to address oil and gas problems in a sustainable manner by investing in relevant industries.
It reviewed and lauded the progress on privatization of State-Owned-Enterprises (SOEs) and directed to keep the process at fast pace.
Prime Minister Kakar directed all the stakeholders to vigorously pursue SIFC’s initiatives through a collaborative approach to reap the dividend in short to medium terms besides, starting processes for long term endeavors in greater interest of the country.
Chief of Army Staff General Asim Munir reassured undaunted resolve of Pakistan Army to backstop government initiatives in different domains for sustainable recovery of the economy.