SIFC satisfied with SOE sell-off progress

ISLAMABAD: The 7th Apex Committee of the Committee of the Special Investment Facilitation Council (SIFC) reviewed and appreciated the progress on privatisation of state-owned enterprises (SOEs) and directed to keep the process at a fast pace.

The meeting was presided over by the Caretaker Prime Minister Anwaar ul Haq Kakar to review various initiatives being led through the SIFC forum on Thursday.

The meeting was attended by the chief of army staff, the federal cabinet, the provincial chief ministers, and high-level government officials.

SIFC forum for fast-tracking sell-off process

The ministries presented progress on projects identified in key sectors and gave plans to further improve the ecosystem for realising the envisaged investments in a timely manner.

The committee showed extreme satisfaction on overall progress under the umbrella of the SIFC, appreciated the enhancing level of engagements with friendly countries, both public and private entities, and outreach strategy to proactively engage investor’s community, which is translating in enhanced traction and approvals at domestic and global stage.

The committee reviewed progress on various measures undertaken to improve the investment climate and approved policy-level interventions to further improve investors’ confidence including repatriation of profits, strengthening domestic dispute resolution mechanism, infrastructural and human resource development and speedy operationalisation of EXIM Bank.

The committee also directed to make a comprehensive strategy to address oil and gas issues in a sustainable manner by investing in relevant industries.

The committee reviewed and appreciated the progress on privatisation of state-owned enterprises and directed to keep the process at a fast pace.

The caretaker prime minister directed all the stakeholders to vigorously pursue the SIFC’s initiatives through a collaborative approach to reap the dividend in short to medium terms besides, initiating processes for long-term endeavours in greater interest of the country.

The chief of army staff reassured undaunted resolve of the Pakistan Army to backstop government initiatives in various domains for sustainable recovery of the economy.

Copyright Business Recorder, 2023