Print Print 2023-08-29

SIFC’s strategy to achieve global traction praised

  • Apex Committee of the Special Investment Facilitation Council endorses projects approved by the previous government
Published August 29, 2023

ISLAMABAD: The Apex Committee of the Special Investment Facilitation Council (SIFC) has expressed confidence in the SIFC and has endorsed the projects, approved by the previous government, for attracting investments in key sectors of agriculture, livestock, mining, minerals, IT, and energy.

On Monday, the 4th Apex Committee meeting of the SIFC was held, the inaugural one under the caretaker government. The meeting was chaired by Prime Minister Anwaar-ul-Haq Kakar and attended by Chief of Army Staff General Asim Munir, the entire federal cabinet, chief ministers, provincial ministers, and high-level government officials.

The cabinet was given a wholesome review of the SIFC initiatives encompassing progress in key areas and benchmarks achieved thus far in a short span of time.

‘SIFC’ termed ‘game-changer’ in relation to FDI prospects

The caretaker prime minister appreciated the efficient functioning of SIFC through a collaborative “Whole of Government Approach” for achieving horizontal and vertical synergy.

The Apex Committee appreciated the SIFC’s outreach strategy to achieve global traction and ongoing engagements with brotherly/ friendly countries including productive visits of high-level delegations from the Kingdom of Saudi Arabia and the Islamic Organisation for Food Security (IOFS).

The Apex Committee expressed confidence in SIFC initiatives and displayed its resolve and support in maintaining the positive trajectory towards the revival of the country’s economy. The Apex Committee also endorsed the projects, approved by the previous government, for attracting investments in key sectors of agriculture/ livestock, mining/ minerals, IT, and energy.

In the end, the prime minister directed to accelerate the realisation of identified projects by capitalising on the enabling environment already achieved through SIFC.

The COAS reaffirmed the Pakistan Army’s all-out support to the caretaker government for the continuity of policies in a bid to revive the country’s economy and steer Pakistan towards progress and prosperity.

Copyright Business Recorder, 2023

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Lyod Aug 29, 2023 07:06am
Puppets and Sheikh Chillis in action...outcome is quite obvious!
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KhanRA Aug 29, 2023 07:15am
The apex committee of the SIFC approves of the SIFC? Who cares? Why is this being reported as newsworthy?
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zaya zaya Aug 29, 2023 07:53am
More talk less action... When its all said and done more has been said than done with SIFC; please refrain from BS.
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WarrenDesiBuffet Aug 29, 2023 08:18am
Praising what? Talking? New letterhead? You have done ZERO so far. Useless is an understatement.
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Usman Aug 29, 2023 09:08am
Is there is plan to how to get rid these around 200 State Owned Enterprises ? Liquidate them or sell them through bidding or Capital Market Transaction. Nothing only Sheikh Chilli talks.
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Shahid Khan Aug 29, 2023 09:46am
Dear Sir, Go to HEC office and see how many youth are trying to flee. Go to any embassy. How we are even sleeping?
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Yogesh (India) Aug 29, 2023 10:15am
What is army doing here? This is not war
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Tanveer Hussain Aug 29, 2023 10:48am
Great initiative! However, we need to stay wary of the following points: The foreign investors may not find the Pakistani market attractive or profitable enough due to various factors such as political instability, security threats in mining areas, corruption, bureaucratic hurdles, lack of infrastructure, poor governance, weak legal system, etc. The foreign investments may not bring the expected benefits or outcomes for the Pakistani economy or society and the common man due to factors such as low value addition, high repatriation of profits, unfair contracts, etc.
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zaya zaya Aug 29, 2023 11:49am
@Tanveer Hussain, No one is going to invest in an Economy controlled by the Partial Law. FDI is most suitable where there is a stable Political Economy, means all its element Systems are stable Political Policies, Economic Policies sectors open for Investment or barriers and sectors to protect, Legal Systems IPP, Rule of Law, ease of Business and its Protection of Contracts and Ventures ensuring Profits and its repatriation, Technological and Digital Systems and its implementation barriers. When an FDI investor does PESTEL its just not there as a viable place to invest, not right now when the current mob is yet again planning to go against the SBA from IMF that 3 Tranches of loans are conditional now, caretaker govt and elections, all within 9 months...till end March 2024. Anything either side of it will not be accepted by IMF and Pakistan economy will be in chaos and will faulter.
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KU Aug 29, 2023 12:24pm
One can imagine the intelligence or intellect of the horde on-a-top because they are more interested in the persecution of political thought and propaganda control, while survival and pain people face are not of any concern to them. These are pathetic times and travails with assured suffering. Besides, why would any international investor be interested in investing in Pakistan when our house is in disorder and when many elephants are let loose in our china shop? Our leaders may fool the nation but not the world.
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Fazeel Siddiqui (Overseas Pakistani) Aug 29, 2023 02:39pm
SIFC will be a bigger disaster for Pakistani nation like the CPEC, if implemented as designed. Such mega scam benefit only the foreign masters and local powerful institutions.
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Tulukan Mairandi Aug 29, 2023 03:32pm
Praised by some maulana?
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Fazeel Siddiqui (Overseas Pakistani) Aug 29, 2023 04:30pm
Caretaker, please don't forget to mention when referring interim officials. Don't normalize the undemocratic norms.
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TidBit Aug 30, 2023 06:32pm
@Yogesh (India), The army is into everything other than giving security
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