Staff Report
ISLAMABAD: Executive Committee for Special Investment Facilitation Council (SIFC) on Thursday began its two-day meeting to review the progress of various policy-level initiatives and projects in the key sectors. The meeting, chaired by Minister for Planning, Development and Special Initiatives Muhammad Sami Saeed, was attended by Federal and Provincial Ministers concerned, besides high-level government officials.
On the inaugural day, the ministries concerned presented progress on various projects and related aspects, recommending various measures for further improving the business and investment climate. The committee appreciated the overall progress in various sectors and level of economic engagements with friendly countries, especially the signing of Memorandums of Understanding (MoUs) and Agreements with the United Arab Emirates and the State of Kuwait.
The committee directed ministries concerned to expedite the work on bankable projects for translating these commitments into realities.
It reviewed systemic issues related to the actualization of various economic zones and deliberated upon various measures to revamp the industrial development regime at the national level. The ongoing privatisation process of State Owned Enterprises (SOE) was reviewed by the committee, and the stakeholders were directed to expedite the processes in line with the envisaged time-frame. The committee formally launched a business and investment-friendly SIFC Visa facility, an important milestone in creating an enabling environment for foreign investors.
