ISLAMABAD: The Special Investment Facilitation Council (SIFC) is all set to hold session-II of 9th meeting of new Executive Committee (EC) on May 14, 2024 at the Prime Minister Office to be presided over by Prime Minister Shehbaz Sharif with heavy agenda related to different ministries, well informed sources told Business Recorder.

The sources said, the EC will discuss following issues of oil and gas sector: (i) Greenfield refinery project- update on petrochemical policy framework to capitalise on Aramco’s Crude to Chemical (C2C) interest; (ii) upgradation of brownfield refineries- update on execution of upgradation agreements; (iii) settlement of petroleum levy issue with Cnergyico refinery limited viz upgradation of brownfield refinery; (iv) update on IP gas pipeline project; (v) TAPI gas pipeline project- update on TAPI in FIPPA 2022, GTA, PSR and HGA with fresh timelines; (vi) issue of gas bill limit and tampering of gas meters- update on issues; i.e., Unaccounted for Gas (UfG) viz BHC single bench decision, SHC stay on recent gas price increase; (vii) gas supply strategy and revised merit order; (viii) requirements and future demand of gas projects- update on hiring of consultants; (ix) sustainable coal utilisation policy 2024- update on hiring of consultant; (x) update on LPG Policy; (xi) National Green Hydrogen Production Policy-action plan with timelines; (xii) exploration of cleaner and better LPG import option from Turkmenistan; ( xiii) Jamshoro Joint Venture Limited dispute- firmed up amicable way forward with stakeholders’ consensus; (xiv) differential payment for supply of RLNG to two fertiliser plants- update on summary for ECC for recovery through revenue requirement of SNGPL; (xv) policy for LNG supply to new domestic consumers-update including extensive media campaign for alignment of consumers behaviour; (xvi) Exploration and Production (E&P) policy and regulatory intervention-update on implementation; (xvi) options available for 50MMCFD gas supply to NSCL (export based steel manufacturer); (xvii) Energas terminal- Qatar Energy Investment Project- update on modification in gas network code, legality of revoking tax exemption on new LNG terminals without approval of CCI, guidance of Law Division on OGRA’s powers to grant TPA exemption under existing law; (xviii) PAkSTREAM Gas Pipeline- recommendations for development of an integrated energy plan involving storage capacity and other infrastructural requirements; and (xix) installation of three LPG air mix plants at Chitral- recommendations to access GCF for funding of the project and way forward.

Saudi investors take advantage of opportunities thru SIFC: PM

Mining Sector:(i) Reko Diq project latest status; i.e., progress on term, PMDC & GPA MoU implementation plan with timelines, progress on hiring/ training of levies force; (ii) update on harmonisation/ regulatory framework of minerals sector as per given timelines, proposal for dedicated Mines and Minerals Division, performance review of Federal and Provincial mineral sector entities as per timeline (June 2024); (iii) performance audit of Geological Survey of Pakistan- update as per given timeline (April 2024); (iv) update on Human Resource Plan- Mineral Sector (Chairman HEC-lead); (v) tangible progress report on MoU with UAE- mining sector cooperation and; (vi) establishment of mining fund- water resources sector.

Ministry of Finance: (i) update on Sovereign Fund; (ii) Etisalat – update on response of letter from PM to UAE and plan of Ministerial Group visit to UAE; (iii) difficulties faced by French Company –SAFRAN will update on remaining claims and resolution of the matter; (iv) pending payments to international entities including DCO- priority list of organisations and plan including proposed sources for release funds; and (v) tangible progress report on MoU with UAE- banking and finance sector cooperation.

Restructuring of FBR digitisation- progress update on the following: (i) tax revenue collection; (ii) Federal Tax Policy Board; (iii) Customs and Inland Revenue Organisations; (iv) separation of policy functions from operation/ tax collection; (v) two oversight boards; (vi) establishment of Tax Policy Office; (vii) implementation committee for amendment in legal and regulatory framework; (viii) FBR digitisation plan; (ix) transformation of PRAL; (x) digitisation of Withholding Tax; (xi) new and simplified scheme for traders and retailers; and (xii) update on tax audit urea/ fertiliser companies. Power Division: ( i) update on compliance by provinces and federal departments to ensure smooth operations, revised mechanism and re-submission of summary to Cabinet; (ii) implementation on renewable energy projects on G2G basis – update from MoFA and Power Division; (iii) update on private sector participation/ management control of Discos; (iv) update on energy sector circular debt reduction plan; (v) update on tariff rationalisation plan; (v) IGCEP and enhancement of renewable energy – update on progress as per given timelines (April 2024) for submission of IGCEP and TSEP to Nepra and NTDC; (vi) category –III Wind and Solar PV projects- update on competitive bidding of 300MW Cat-III wind projects and Inter-Connection Ready Zones (IRZA) for Cat-III solar project (NTDC); (vii) hydel projects at LoI stage- update on resolution of issues of 47 LoI holders and Asrit Kadam 229MW and Lower Spat Gah 470MW; (viii) Riali HPP (LoS stage)- update on completion of related approvals including summary for CCoE; (ix) 330MW Mine Mouth Thar Coal power plant- update on negotiations with SEL for a mutually favourable way forward; (x) Hawa and Jhimpir wind Ltd (DFC funded project)- update on consultations with project sponsors/ DFC and other foreign financiers for amicable resolution; (xi) update on transmission/ evacuation plans for Dasu and Diamer Bhasha projects; (xii) extension of electricity grid and 11=KVA distribution network to Greater Cholistan for development of corporate farming projects (Chief Secretary Punjab lead); (xiii) tangible progress report on MoU with UAE- renewable energy cooperation; (xiv) update on feasibilities of two transmission line projects; i.e., Ghazi Barotha- Faisalabad and Matiari– Rahim Yar Khan; (xv) update on five reactive power compensation; (xvi) battery storage for frequency regulation- update on feasibilities as per given timelines; (xvii) land acquisition process for solar projects in Kot Addu/ Muzaffargarh, Jhang and Layyah; (xviii) power to JW SEZ by LESCO- plan for provision of power supply to SEZs through PSDP (BoI and Power Division). Ministry of Privatisation will share update on privatisation of PIA and First Women Bank Limited.

Commerce Ministry to update on;(i) refund to Makhdoom Logistics Services of KSA by TCP; (ii) reform in insurance sector and UAE’s proposal for investment; (iii) prolonged cargo transit time and LC opening challenges of M/s NutriCo Morinaga- update on 10 shipments; (iv) update on concerns of transporters and industry regarding implementation of Axel Load Regime (ALR); (v) issue of ban on Ajinomoto; (vi) issue of bank guarantee for transit through Iran/ Afghanistan; (vii) repositioning of TIOs and revised KPIs; (viii) GCC FTA and BIT with KSA and Qatar.

Ministry of Industries will share update on; ( i) Techno Transition Company which was allotted 24 acres of land provisionally for establishment of STZa on PSM land before decision of no further alienation ;(ii) update on notification by MoI&P for the name change from “Tuwairqi Steel Mills Export Processing Zone” to National Steel Complex Export Processing Zone; (iii) issue of licence to Premier Motors (Volkswagen) - update on summary to ECC for extension of licence under previous policy and cost-benefit analysis for ascertaining whether the investment has benefit for the country or otherwise; (iv) PSM land; (v) automobiles refurbishment for re-export; (vi) Sintotech solar plant- inclusion of tariff protection for concerned items in next Finance Bill; (MoF) and special exemption to the company for import of plant and machinery including raw material for starting the project, electricity connection of 2 MW from KE and change of category of land from warehouse to industry (PQA); (vi) update on implementation of EV Ecosystem ; and (vii) update on implementation of new entrants in automobile sector. Provincial Governments of Punjab, KP, Sindh and Balochistan will also update the EC on the tasks given to them.

Copyright Business Recorder, 2024


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KU May 13, 2024 10:01am
Other than investment, all functions of various ministries are in the scope of SIFC? Disconnected from reality of daily miseries of Pakistanis, why not, they mere ordinary people.
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KU May 13, 2024 11:54am
And may we very humbly and fearfully ask, how is SIFC huffing n puffing about the $1 billion wheat scandal and crime against Pakistan? Surely, the efforts n image of SIFC is shot in the foot.
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maqbool May 13, 2024 01:14pm
with an Agenda that long, everything will be glanced over, and the burocrats will continue to rule .
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Toy Soldier May 13, 2024 01:31pm
Meet & greet, shake hands, have tea and cake and then mitti pao.
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Doc Vader May 13, 2024 02:43pm
Basically they will try to find new ways to woo investors for projects with major commissions
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