SIFC Decides to Take Action Against Smugglers, Hoarders

Rs 1 trillion

The Special Investment Facilitation Council (SIFC) convened the 8th meeting of its Apex Committee to review various projects and initiatives being pursued through the platform of SIFC. Members decided to take action against smugglers, hoarders, and market manipulators, which have impacted the economic trajectory.

The meeting was chaired by the Prime Minister and attended by the Chief of Army Staff, the Federal Cabinet, Provincial Chief Ministers, and high-level government officials.

The ministries presented progress on the projects being steered in key sectors and gave plans for the timely realization of the envisaged investments.

The Committee showed satisfaction with the overall progress achieved in the key sectors under SIFC.

The Committee appreciated the enhancing level of economic engagements with friendly countries including the finalization of the Bilateral Investment Treaty with the Kingdom of Saudi Arabia and Qatar as well as the signing of MoUs and Framework Agreements with the United Arab Emirates and the State of Kuwait respectively.  The forum gave directions to convert these sovereign commitments into economic reality at a fast pace.

The Committee reviewed progress on privatization and appreciated the collaborative approach of various stakeholders in the timely completion of various critical benchmarks and gave directions to maintain the momentum.

The Committee reviewed progress on various measures being undertaken to improve the investment climate and approved various policy-level interventions to further facilitate the investors including strengthening of domestic dispute resolution mechanism.

The Committee also developed a consensus on fast-tracking the infrastructural development to facilitate the investors, especially in remote areas of the country.

The Committee appreciated the ongoing inclusive approach toward human resource development to support emerging needs in key sectors of the economy. The Committee showed firm resolve to take action against smugglers, hoarders, and market manipulators, which have impacted the economic trajectory.

Chief of Army Staff assured the unwavering resolve of the Pakistan Army to support the government’s initiatives aimed at the economic recovery of the country. In the end, the Prime Minister directed all the stakeholders to vigorously pursue various SIFC initiatives to ensure their accomplishment within the stipulated timeframe.

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