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ISLAMABAD: Federal Minister for Privatisation, Fawad Hasan Fawad, chaired the second and final meeting of the SIFC Working Group on Development of Special Economic Zones held at the Privatisation Division.

The working group suggested the creation of a single authority for managing all types of economic, technology, and industrial zones for the facilitation of investment and development of industry. A working paper based on the recommendations of the working group will be submitted to the SIFC executive committee in its next meeting.

Pakistan to be world investment destination after SIFC

The meeting was attended by representatives of all key stakeholders at the federal and provincial levels. It was highlighted that the existing frameworks allow for different types of special zones offering different sets of incentives which is counterproductive for industrialization. The best facilitation of investment can be offered only when a single authority is formed and fully empowered by all stakeholders to cater to investors. It was further pointed out that legal and constitutional provisions exist for such cooperation and coordination between the federation and the federating units.

Copyright Business Recorder, 2023

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TimetoMoVVeOn Dec 10, 2023 08:55am
Why not just give the entire country to SIFC ....in other words...this is miliary rule by hiding behind SIFC.
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KU Dec 10, 2023 10:42am
One wonders if this working group discusses the availability of affordable electricity or gas for projects or investments. Perhaps they have already worked this out and most likely load-shedding for the masses is on the cards to facilitate SIFC promises. But even then, it defies all common sense that when existing industries and agriculture suffer from the high costs of production, how can they expect investment from foreign companies?
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