SIFC Apex Committee: Caretaker PM asks ministries to deliver optimal results

ISLAMABAD: Caretaker Prime Minister (PM) Anwaarul Haq Kakar has asked the ministries to deliver optimal results irrespective of the time that is available with the interim government.

The fifth meeting of the Special Investment Facilitation Council’s Apex Committee was held in Islamabad on Friday with a singular focus to improve the overall business and investment environment in the country imperative for ‘Economic Revival’.

The meeting was chaired by Caretaker Prime Minister Anwaarul Haq Kakar and attended by Chief of Army Staff (COAS) General Syed Asim Munir, Federal Cabinet, Provincial Chief Ministers and high-level government officials.

The concerned ministries presented their plans and roadmaps to overcome the macroeconomic challenges, governance-related impediments and voids in regulatory mechanisms in a bid to attract both foreign and domestic investment, and stimulate economic growth.

The SIFC apex committee deliberated upon various measures to be taken in short, medium and long term to reap the envisaged dividends. Various practical steps were approved by PM Kakar that will be operationalized as soon as possible.

The caretaker premier asked the ministries to deliver optimal results irrespective of the time that is available with the interim government and emphasized to lay a strong foundation for the future government.

On Monday, the fourth meeting of its Executive Committee (Functional Tier) was held with the objectives to remove bottlenecks and improve overall investment environment.

The Special Investment Facilitation Council (SIFC) continues to steer investment related initiatives at fast pace through exhaustive engagements involving all stakeholders.

The meeting was chaired by Minister for Planning, Development and Special Initiatives and attended by the National Coordinator for SIFC, federal and provincial ministers concerned, and high level government officials, a press release said.

The ministries concerned presented progress on various aspects and highlighted areas needing special focus.

The committee showed its satisfaction regarding the ongoing outreach strategy of the SIFC and directed to further build on it by engaging business community and missions abroad.

At the end, the committee recommended measures to further improve the ecosystem for investment in the country with focus on, inter alia, policy interventions, visa facilitation for investors, dispute management / resolution mechanism, and technical refinement of approved projects in agriculture, IT, minerals and energy sectors.

The matters recommended by the Executive Committee will be presented at the Apex Committee Meeting, to be chaired by the prime minister, for their approval and implementation.