SIFC approves various workable options to trigger investments

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.

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