SIFC directs to keep SOEs privatisation process at fast pace

Pakistan Army to backstop govt initiatives for sustainable recovery of economy: COAS.

ISLAMABAD  –  Caretaker Prime Minister Anwaarul Haq Kakar Thursday directed all the stakeholders to vigorously pursue the initiatives of the Special Investment Facilitation Council (SIFC) through a collaborative approach to reap the dividend in short to medium terms, besides initiating processes for long term endeavours in the larger national interest.

The prime minister said this while chairing the 7th meeting of the Apex Committee of SIFC that was attended by the Chief of Army Staff, members of the federal cabinet, provincial chief ministers and high level government officials. Chief of Army Staff (COAS) General Syed Asim Munir reassured undaunted resolve of the Pakistan Army to backstop government initiatives in various domains for sustainable recovery of the economy.

According to a statement issued by the Prime Minister’s Office, the meeting was held to review various initiatives being led through the SIFC forum. In the meeting, the ministries presented progress on projects identified in key sectors and gave plans to further improve the ecosystem for realising the envisaged investments in a timely manner. 

The committee showed extreme satisfaction on overall progress under the umbrella of SIFC, appreciated the enhancing level of engagements with friendly countries, both public and private entities, and the outreach strategy to proactively engage investors’ community which was translating in enhanced traction and approvals at domestic and global stages. It reviewed progress on various measures undertaken to improve investment climate and approved policy level interventions to further improve investors’ confidence including repatriation of profits, strengthening domestic dispute resolution mechanism, infrastructural and human resource development, and speedy operationalisation of EXIM Bank. The committee also directed to make a comprehensive strategy to address oil and gas issues in a sustainable manner by investing in relevant industries. The apex body reviewed and appreciated the progress on privatisation of State-Owned-Enterprises and directed to keep the process at fast pace.