Fawad chaired meeting of SIFC Working Group on Development of SEZs

ISLAMABAD-Federal Minister for Privatisation Fawad Hasan Fawad has chaired the second and final meeting of SIFC Working Group on Development of Special Economic Zones.
The working group suggested creation of a single authority for managing all types of economic, technology and industrial zones for facilitation of investment and development of industry. A working paper based on the recommendations of the working group will be submitted to SIFC executive committee in its next meeting.
The meeting was attended by representatives of all key stakeholders at the federal and provincial level. It was highlighted that the existing frameworks allow for different types of special zones offering different sets of incentives which is counterproductive for industrialization. The best facilitation of investment can be offered only when a single authority is formed and fully empowered by all stake holders to cater to investors. It was further pointed out that legal and constitutional provisions exist for such cooperation and coordination between the federation and the federating units.
Meanwhile, a group of representatives from leading investment banks, funds and institutional investors called on the Federal Minister for Privatisation Fawad Hasan Fawad at Privatisation Division on Friday. The group was organized by Trans-National Research Corporation and included representatives from Fidelity Investments, Morgan Stanley Investment Management, Barings and William Blair Investment Management. The federal minister briefed the group on the vision of present government on investment and privatisation of SOEs as well as the working of Privatisation Commission and the current agenda of privatisation. The process and expectations for the privatization of PIACL, Roosevelt Hotel, FWBL and HBFC were discussed. The minister responded to all the queries of the representatives regarding the current privatisation agenda and process as well as future investment opportunities. The representatives were encouraged to explore the opportunities for possible investment in Pakistan. The group appreciated the initiatives taken and expressed that the work being done will result in conducive environment for investment in Pakistan.

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