SIFC apex panel approves policy level interventions

Govt to facilitate investors, strengthen domestic dispute resolution mechanism

ISLAMABAD:

The Apex Committee of the Special Investment Facilitation Council (SIFC) approved various policy level interventions on Wednesday to further facilitate the investors and strengthen domestic dispute resolution mechanism, the Prime Minister’s Office said.

According to a press release issued by the Media Wing of the Prime Minister’s Office, the meeting also reviewed progress on various measures being undertaken to improve the investment climate and various projects and initiatives being pursued through the platform of SIFC.

The meeting was chaired by Caretaker Prime Minister Anwaarul Haq Kakar, and attended by Chief of Army Staff Gen Asim Munir, members of the caretaker federal cabinet, caretaker provincial chief ministers and high level officials.

The participants appreciated the collaborative approach by various stakeholders in the timely completion of various critical benchmarks for the privatisation process and gave directions to maintain the momentum, the press release said.

The committee developed consensus on fast-tracking the infrastructural development to facilitate the investors, especially in remote areas of the country and appreciated the ongoing inclusive approach towards human resource development to support emerging needs in key sectors of economy.

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During the meeting, the federal ministries presented progress on the projects being steered in key sectors and gave plans for timely realisation of the envisaged investments. The prime minister directed all the stakeholders to vigorously pursue the SIFC’s initiatives to ensure their accomplishment within stipulated timeframe.

The meeting appreciated the enhancing level of economic engagements with friendly countries, including finalisation of bilateral investment treaties with Saudi Arabia and Qatar as well as signing of the memoranda of understanding (MoUs) and the framework agreements with the United Arab Emirates (UAE) and Kuwait.

The forum gave directions to convert these sovereign commitments into economic reality at fast pace. It also showed firm resolve to take action against smugglers, hoarders and market manipulators that had impacted the economic trajectory and to provide immediate relief to the common citizens.

The committee expressed satisfaction with the overall progress achieved in the key sectors under SIFC.

On the occasion, the chief of army staff assured the participants of the army’s unwavering resolve to support the government’s initiatives aimed at economic recovery of the country.