Investment-friendly visa facility launched

SIFC body reviews progress on policy initiatives, key projects

ISLAMABAD:

The executive committee of the Special Investment Facilitation Council (SIFC) on Thursday formally launched a business and investment-friendly visa facility, an important milestone in creating an enabling environment for foreign investors.

The committee began its two-day meeting for reviewing progress on various policy-level initiatives and projects in key sectors.

The meeting, chaired by Minister for Planning, Development and Special Initiatives Muhammad Sami Saeed, was attended by federal and provincial ministers and high-level government officials, a statement said.

On the inaugural day, the ministries concerned presented progress on various projects and related aspects, recommending measures for further improving the business and investment climate.

Read PM unveils visa policy aligned with SIFC initiative

The committee appreciated overall progress in different sectors and the level of economic engagement with friendly countries, especially the signing of memoranda of understanding (MoUs) and agreements with the United Arab Emirates and Kuwait.

It directed the ministries to expedite work on bankable projects for translating commitments into reality. It reviewed the issues related to the establishment of economic zones and deliberated upon measures to revamp the industrial development programme at the national level.

The committee also reviewed privatisation plans for state-owned enterprises (SOEs) and directed stakeholders to expedite the process in line with the envisaged time frames.

Last week, Caretaker Prime Minister Anwaarul Haq Kakar, while reiterating the government’s commitment to providing a conducive environment and streamlining regulations, urged the business community to take advantage of SIFC.

Published in The Express Tribune, December 15^th, 2023.

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