SIFC’s apex committee approves projects for attracting investments

ISLAMABAD: The Apex Committee of Special Investment Facilitation Council (SIFC) has given approval to several projects for attracting investments from friendly countries in agriculture, livestock, mining, IT and energy sectors, ARY News reported on Monday.      

The approval was given at the third meeting of SIFC’s apex committee held in Islamabad on Monday, with Prime Minister (PM) Shehbaz Sharif in the chair.

The meeting was attended by Chief of Army Staff (COAS) Asim Munir, Chief Ministers, federal and provincial ministers and high-level government officials.

PM Shehbaz appreciated the expeditious operationalisation of SIFC in a short span and its efficient functioning through a collaborative approach.

The apex committee appreciated the global impact of the ongoing outreach strategy through seminars and project inaugurations; which will be augmented by SIFC’s website, being launched shortly.

The committee gave final approval of projects, presented by the ministries, for attracting investments from friendly countries, under the umbrella of SIFC, in key sectors of agriculture, livestock, mining, minerals, information technology and energy.

SIFC’s committee also showed all-out support for successful conduct of the upcoming visit of a high-level delegation from the Kingdom of Saudi Arabia to Pakistan through SIFC platform.

PM Shehbaz directed to make this inaugural visit a momentous event. At the end, Apex Committee showed resolve for continuous support to SIFC initiative and urged the interim government to maintain the impetus for a positive contribution.

SIFC for economic revival

In June, Pakistan constituted Special Investment Facilitation Council (SIFC) for the economic revival of the country.

The Economic Revival Plan was unveiled during a high-level meeting chaired by the 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 defence production, agriculture, livestock, minerals, mining, information technology and energy, through indigenous development as well as investments from friendly countries.

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

The setup will shorten heretofore cumbersome and lengthy business processes through a cooperative and collaborative ‘whole of the government approach’ with the representation of all stakeholders. It is aimed at creating horizontal-vertical synergy between federation and provinces; facilitating timely decision-making; avoiding duplication of effort; and ensuring swift project implementation.

The high-ranking participation from federal and provincial governments, clearly manifests the national resolve to turn around the economy despite all odds.