The Executive Committee of the Special Investment Facilitation Council (SIFC) on Thursday highlighted the importance of close coordination and cooperation among relevant stakeholders to strengthen the country’s state-run industrial sector. Radio Pakistan reported.
The SIFC is a committee that assists foreign investments, with the aim of improving the ease of doing business for investors and attracting investments from other countries.
In May last year, the Pakistan Business Council (PBC) recommended the SIFC to focus on transforming the investment climate. PBC Chief Executive Ehsan Malik urged the council to address fragmentation and silo working of key ministries to ensure long-term policy predictability.
In September, four countries allocated $27 billion]3 for investments by launching several mega projects in Pakistan under the SIFC.
Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal chaired the 12th meeting of the committee in Islamabad yesterday. The meeting reviewed the progress of ongoing projects and policy initiatives in various sectors.
“The meeting commended the ongoing efforts to grant industrial status to the warehousing and logistics sectors.” Radio Pakistan saying.
It aimed to further improve the investment climate in the country and pave the way for progress in key sectors, strengthening Pakistan’s position on the global stage, he added.
During the meeting, several ministries presented updates on projects and policy-level actions being carried out through the SIFC forum.
The committee engaged in detailed discussions and reached consensus on policy issues related to critical sectors, including industry, agriculture and livestock, mining and minerals, oil and gas, and ports, according to the report.
“In line with the Prime Minister’s directives during the 11th Apex Committee meeting, the committee focused on accelerating the implementation of the revised framework for Special Economic Zones (SEZs),” he added.
Furthermore, the committee ordered quick actions on various aspects of port and maritime infrastructure.
Specific attention was paid to improving terminal management to facilitate smoother exports and imports, in line with the committee’s goal of improving trade logistics.
The committee mandated the use of the SIFC forum to accelerate cross-sectoral issues through policy-level actions and stakeholder consultations.
The meeting was attended by federal ministers, SIFC National Coordinator, federal secretaries, provincial chief secretaries and senior government officials.
