Federal govt constitutes new investment board

ISLAMABAD: The federal government has constituted a 25-member new investment board, ARY News reported on Tuesday. 

As per details, the notification of the new investment board was issued after the approval from federal cabinet.

The notification stated that Prime Minister will be the president of the investment while Foreign Minister, Finance Minister, and Investment and Trade Minister will be the board members.

The Minister for Industries and Production, Power Ministry, and IT Ministry are included in the Investment Board. The new investment board also includes Governor State Bank, Chairman FBR, and Chairman BOI.

Read more: Pakistan Constitutes Special Investment Facilitation Council for economic revival

Earlier, the Special Investment Facilitation Council (SIFC) was constituted for the economic revival of Pakistan.

The Economic Revival Plan was unveiled during a high-level meeting chaired by Prime Minister Shehbaz Sharif and attended by the Chief of Army Staff (COAS), Chief Ministers, Federal and Provincial Ministers, and high-level government officials.

The plan envisages capitalizing Pakistan’s untapped potential in key sectors of defense production, agriculture, livestock, minerals, mining, information technology, and energy, through indigenous development as well as investments from friendly countries.

To fast-track the development of projects, the establishment of the Special Investment Facilitation Council (SIFC) was undertaken to act as a ‘Single Window’ interface for potential investors as well as to adopt a unified approach.