SIFC’s apex committee orders expediting privatisation process

ISLAMABAD: The apex committee of the Special Investment Facilitation Council (SIFC) has ordered to expedite the privatisation process of the loss-making state-owned entities, ARY News reported on Thursday.

The seventh session of the Special Investment Facilitation Council’s (SIFC) apex committee was held under the chair of Caretaker Prime Minister Anwaarul Haq Kakar today.

Chief of Army Staff (COAS) General Syed Asim Munir, caretaker cabinet members, caretaker chief ministers and high-level government officers attended the session.

The apex committee members reviewed the steps for facilitating investments in Pakistan. A briefing was given to the apex committee members regarding the investment measures and achievements of the targets.

The committee expressed satisfaction over the steps and lauded the increase in contacts with the ally countries to invite foreign investments and the cooperation of the government and private institutions.

The effective measures on national and international levels bore fruit for different projects.

The apex committee also reviewed the policy measures to increase the confidence of the investors including the process of business conflict resolution, sustainable development, functionality of the EXIM Bank of Pakistan and human resourcing in accordance with international standards.

The SIFC apex committee directed to prepare a comprehensive strategy to bring investments to Pakistan’s oil and gas sector.

The privatisation process of the loss-making state-owned entities was also reviewed in the session. The committee directed to expedite the privatisation process.

Caretaker PM Anwaarul Haq Kakar issued directives to all institutions for implementing the SIFC’s decisions in a coordinative way. He said that the measures adopted by the SIFC will give short and long-term benefits to Pakistan.

COAS General Syed Asim Munir assured Pakistan Army’s commitment to play role in the revival of Pakistan’s economy.

Earlier, Caretaker PM Anwaarul Haq Kakar expressed the hope that the Special Investment Facilitation Council (SIFC) would help bring in over $60 billion investment to Pakistan in the next five years.