Reviews measures being undertaken for improving investment ecosystem, overcoming macroeconomic challenges and stimulating economic growth.
ISLAMABAD - The Executive Committee of Special Investment Facilitation Council (NIFC) has formulated and approved various workable options, by getting consensus among stakeholders, to pave the way for foreign investments removing key hurdles and making the investment environment business friendly in the country.
The fifth meeting of the executive committee of the Special Investment Facilitation Council (SIFC) was held yesterday. The executive committee will continue for two more days, an official statement issued by the SIFC said.
The meeting was aimed at reviewing the measures being undertaken for improving the investment ecosystem, overcoming macroeconomic challenges and stimulating economic growth.
The meeting was chaired by the Minister for Planning, Development and Special Initiatives and attended by the National Coordinator for SIFC, Dr Jehanzeb Khan SAPM (Governance Effectiveness). Concerned federal and provincial ministers and high-level government officials also attended the meeting.
During the meeting, the relevant ministries presented progress on various aspects including policy-level interventions to be undertaken in the short, medium and long term to yield the desired dividends.
The plans were also finalised to resolve issues related to four key sectors (agriculture, information technology, minerals and energy) besides, adding new projects to the forum.
The committee members showed the consensus to continue the positive momentum to attract investment in various sectors of economy
The SIFC has already approved multiple projects presented by various ministries to attract investments from friendly countries, under the umbrella of the council, in key sectors like agriculture, livestock, mining, minerals, information technology and energy.
The SIFC was constituted this year with an aim to enhance foreign direct investments, boost investors’ confidence and revamp Pakistan’s economy. It will play a pivotal role for the progress and development of vital sectors of the country including agriculture, energy, information technology, minerals and defense production.
The SIFC is a platform with whole of government to approach vertically and horizontally with complete participation of the federal and provincial governments as well as all the ministries and key state institutions.
At this platform, all the issues related to the issuance of visas to investors will be resolved and this speedy process will open new avenues of development for Pakistan.
The top-10 drivers behind foreign direct investment include market size and growth, economic stability, political stability and governance, liberalized trade policies, skilled workforce, infrastructure development, natural resources and raw materials, tax incentives and investment policies, market access and trade agreements and technological advancement.
