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Print Print 2023-10-02

Govt injects more clarity into SIFC initiative

  • Notification issued by Board of Investment says Special Investment Facilitation Council shall have three tiers
Published October 2, 2023

ISLAMABAD: The government is to follow Chinese and Indonesian model with respect to utilisation of Armed Forces services in some specific areas.

According to the notification issued by Board of Investment (BoI), Special Investment Facilitation Council (SIFC) shall have three tiers with the following composition:

(i) Apex Committee-SIFC ( a) Prime Minister; (b) Federal Ministers (Planning, Development & Special Initiatives (PD&SI), Finance, IT & Telecom, National Food Security & Research (NFS&R), Power, Water Resources, Industries and Production, Defence, Defence Production and Investment, Law & Justice); (b) Chief of the Army Staff; (c) by special invitation all Provincial Chief Ministers; (d) National Coordinator (Pakistan Army); and (e) a Special Assistant to the Prime Minister shall act as Secretary to the Apex Committee.

Economic challenges: Army vows its full support to caretaker setup

(ii) Executive Committee-SIFC; (a) Minister for PD&SI; (b) National Coordinator (Pakistan Amy); (c) Federal Minister (Defence, NFS&R, IT & Telecom and Power, Information & Broadcasting); (d) Ministers of State (Petroleum) and Minister of State (Finance); (e) Provincial Ministers (Agriculture, Mines and Minerals, IT, Energy, Board of Revenue, Irrigation, Finance, Planning and Development and Investment); (f) Special Assistant to the Prime Minister, SIFC Secretariat; (g) all Provincial Chief Secretaries; (h) Director General (Pakistan Army), SIFC Secretariat; (viii) Secretary, Ministry of Foreign Affairs; (i) Secretary Board of Investment(Secretary SIFC Secretariat shall act as Secretary to the Executive Committee).

(iii) Implementation Committee-SIFC- SIFC Secretariat; (a) Special Assistant to the Prime Minister; (b) Secretary, Ministry of Foreign Affairs; (c) Director General (Pakistan Army) ; (d) Secretary SIFC Secretariat (BS:21)/ Additional Secretary (BoI); (e) representative of Pakistan Army; (f) five Sector Coordinators; (g) five co-coordinators ex-Pakistan Army (a dedicated Additional Secretary Board of Investment shall act as Secretary, SIFC Secretariat, as well as, Secretary to the Executive Committee and Implementation Committee): (b) Co-Opted Members: (i) Finance Secretary; (ii) Secretary, Board of Investment; (iii) Secretary, Economic Affairs Division; (iv) Chairman Federal Board of Revenue (FBR); (v) Deputy Governor, State Bank of Pakistan (SBP) (to be nominated by Governor SBP); (vi) Provincial Focal Persons.

Sectoral Divisions include:

Defence Division: (i) Defence Secretary; (ii) Secretary Defence Production; (iii) representative of Pakistan Army; (iv) representatives of SPD, DGDP and DPEs.

Agriculture Division: (i) Secretary, Ministry of NFS&R; (ii) Secretary, Ministry of Water Resources; (iii) representative of Pakistan Amy.

Mineral Division: (i) Secretary, Ministry of Petroleum; (ii) representative of Pakistan.

Information Technology Division: (i) Secretary, Ministry of IT & Telecommunication; (ii) Pakistan Army.

Energy Division: (i) Secretary, Ministry of Power; (ii) Secretary, Ministry of Petroleum; (iii) Secretary, Ministry of Industries and Production;(iv) representative of Pak Army and; (v) representative of FWO.

As per Terms of Reference, the SIFC shall focus on investment and privatisation, initially in five areas including Defence, Agriculture, Minerals, Information Technology and Telecommunication and Energy (hereinafter referred to as the Relevant Fields).

The SIFC shall act as (i) Single Window for multi-domain cooperation in ‘Relevant Fields’ with GCC countries in particular and other countries in general for facilitation of investment and developing an enabling policy environment; (ii) prepare long-term road-map for growth, development and investment in the ‘Relevant Fields’, while capitalizing on low hanging fruit; (iii) enhance awareness of Pakistan’s latent potential in the ‘Relevant Fields’; (iv) improving ease of doing business by overcoming systemic/ bureaucratic hurdles and optimising horizontal-vertical synergy federation and provinces coordination and :(a) facilitating timely decision making and avoid duplication of effort; and (b) fast tracking investment and projects implementation.

SIFC will coordinate Pakistan’s Army assistance for some purposes as being done in other countries like China, Indonesia, etc.

The Apex Committee, Executive Committee and Implementation Committee shall hold meetings quarterly, monthly and fortnightly, respectively in order to monitor progress of each Sectoral Division.

Copyright Business Recorder, 2023

Comments

Comments are closed.

Ash Chak Oct 02, 2023 08:25am
Does there have to be two dozen or more people for every single meeting , no matter how inconsequential they are? No wonder Pakistan is running out of money.
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MalikSaabSays Oct 02, 2023 08:46am
"SIFC will coordinate Pakistan’s Army assistance for some purposes as being done in other countries like China, Indonesia, etc." Military doesn't run anything in China. Civil leadership calls the shots. Indonesia had a 32-year brutal military dictator. Where is the convergence in those two models? As they say, 'nakal kay liay aqal chiay hoti hai'. One can well gauge the calibre of individuals attempting to copy others since 7 decades (and still running)...and still getting it wrong every time! big LOL
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DocAsad Oct 02, 2023 09:57am
Words, words and words.
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Ch K A Nye Oct 02, 2023 10:30am
Desperately trying to justify military involvement in every single aspect of governing the country.
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KU Oct 02, 2023 10:50am
After three months of its existence, SIFC scope of operations is still not clear, and still redrawing the organizational chart of West Pakistan Company. Is this wastefully alarming activity or alarming that it is wasteful activity? All that the Chief needs to do is, catch every thief involved in crimes against the economy of Pakistan and put them in jail, a miracle will emerge that will save the country.
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a2aliii Oct 02, 2023 11:48am
Army should focus on SECURITY !!! They have put Pakistan on fire since 22+ Odd Years !! Economy can only flourish in Peaceful Envirment......... Current Security situation is WORST!
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faisal Oct 02, 2023 12:34pm
As it is a military initiative, the investment will be a valid target for militants.
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Johnny Walker Oct 02, 2023 02:55pm
In short, the Army rules every committee and the dozens of members are irrelevant subterfuge. If it delivers results then it is more palatable then the vile lot of politicians of this country.
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TidBit Oct 02, 2023 05:04pm
......yet for some very strange reason, we seemed to be very, very worried, including the editorials of this newspaper and several others, about the fall of democracy in neighboring India. Over here in pakistan, the army has visibility taken over the country. They put political people in jail, control the judges, arrest anyone that speaks against them, control which party can run and who can win, and now they have full control over the economy via SIFC. Not to mention corporate farming. Have we seen any country's army engaged in farming and livestock production? Has this new paper have the guts to write an editorial about this stupidity?
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Ghareeb Awam Oct 03, 2023 07:44am
We are 100% doomed! Enough for now.
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Mohammad Aleem Khan hoti. Oct 03, 2023 11:34am
The Apex committee, Executive Committee, Implementation Commitee each committee comprises of more than 2 dozen members.I think no one is left in federal govt who has not been inducted in the afore mentioned committees.All these committess are made to uplift the economy of the country instead to act as job provider to the members being hired. What was the need to make such huge committees for three to fours task being assigned.Who will bear their expenses like TA,DAs, travelling expenses,Refreshment and salaries in case of retired personnels.
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Faraz Oct 03, 2023 12:37pm
@TidBit, Imran Khan Niazi was not a politician just a puppet of establishment. After using him he's discarded like a tissue. After everything he did this is just karma.
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Omar Malik Oct 05, 2023 03:39pm
Do we still need BOI and PC after the formation of SIFC...? Isn't these organizations redundant now...? Why are we keeping irrelevant and loss making SOEs when the state is almost bankrupt.
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