Addressing the SIFC Apex Committee meeting in Islamabad on Thursday, Prime Minister Shehbaz Sharif highlighted the key role of the Special Investment Facilitation Council (SIFC) in promoting foreign investment. Prime Minister Shehbaz Sharif highlighted the SIFC as the cornerstone of a comprehensive strategy for Pakistan’s economic recovery and emphasized the need to address the country’s current economic problems and crises.
“SIFC has a key role in removing obstacles in the way of foreign investment. It is a manifestation of the country’s comprehensive strategy of ‘reviving the economy’. Pakistan must get rid of the current economic problems and crises,” he emphasized at the conference. conclusion of the meeting of the High Committee.
Expressing his determination to pave the way for increased foreign investment in Pakistan, Prime Minister Shehbaz Sharif outlined the council’s aim to promote the concepts of “one government” and “collective government” to facilitate investment projects and accelerate their implementation across the country. “Implementation of investment projects in the country will be accelerated,” Shehbaz emphasized.
He described the platform as “very important” for economic development and foreign investment. According to the prime minister, the real potential of the country in sectors such as agriculture, livestock breeding, mineral resources, mining, information technology, energy and agricultural production will be used as part of the project.
Under the initiative, steps are being taken to increase Pakistan’s local productivity and investment from friendly countries through these sectors, he added. Appreciating the “extraordinary efforts” of the military leadership in ensuring the success of the platform and attracting foreign investors through streamlined processes, Prime Minister Sharif acknowledged the provision of a “single window” to investors from foreign countries.
Prime Minister Shehbaz Sharif further emphasized the importance of fostering cooperation between the federal and provincial governments in this initiative. He emphasized that the Apex Committee was working effectively and efficiently even during the caretaker government. Prime Minister Sharif said it was a welcome move for all to come together to tackle the economic challenges facing the country.
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“In the current situation, it takes hours for everyone to sit together,” he emphasized. The inaugural meeting of the committee was attended by federal ministers and military leadership, including Army Chief Gen Asim Munir, Punjab Chief Minister Maryam Nawaz, Sindh Chief Minister Murad Ali Shah, Balochistan Chief Minister Sarfraz Bugti and Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur.
Prime Minister Shehbaz Sharif welcomed all the participants for attending the meeting with special thanks expressed to the Chief Ministers. Former caretaker prime minister Anwarul Haq Kakar and his cabinet also attended the meeting and briefed the committee about the steps they had taken under the SIFC, according to sources.
The session also reviewed the progress in projects launched so far to support foreign investment. The meeting also discussed the country’s overall economic and national security situation, the sources added. The meeting was also likely to consider investment opportunities in the country and the interest of friendly countries.
It should be noted that the Special Investment Facilitation Council (SIFC) also plays an important role in harmonizing the financial expenditure of the federal government and the provinces. With an estimated allocation of Rs 1 trillion in federal funding, the council facilitates subsidies and projects under provincial jurisdiction.
These include critical initiatives such as the Benazir Income Support Program (BISP), Public Sector Development Program (PSDP) as well as investments in higher education, tube well electricity supply and fertilizer subsidies. The long-term goal of SIFC’s efforts is to reduce the financial burden on the federal government while ensuring optimal use of funds at the provincial level.
