SIFC’s Apex Committee vows action against smugglers, hoarders, market manipulators

Islamabad: The Apex Committee of Special Investment Facilitation Council (SIFC) has expressed a firm resolve to take action against smugglers, hoarders, and market manipulators, which have impacted the country’s economic trajectory and to provide immediate relief to common citizens.

The meeting of the Apex Committee of SIFC, which was held in Islamabad today with Caretaker Prime Minister Anwaar-ul-Haq Kakar in the chair, reviewed various projects and initiatives being pursued through the platform of SIFC.

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

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

The Committee expressed 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 a 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.

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

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

Speaking on the occasion, Chief of Army Staff General Syed Asim Munir assured the unwavering resolve of the Pakistan Army to support government initiatives aimed at the economic recovery of the country.

At the end, the Prime Minister directed all stakeholders to vigorously pursue various SIFC initiatives to ensure their accomplishment within the stipulated timeframe.