Caretaker Prime Minister Anwaarul Haq Kakar has directed all the stakeholders to “vigorously” pursue the Special Investment Facilitation Council’s (SIFC) initiatives 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 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.

They reviewed various initiatives being led through the SIFC forum, a PM Office press release said.

In the meeting, the ministries presented progress on projects identified in key sectors and gave plans to further improve the ecosystem for realizing the envisaged investments in a timely manner.

The committee showed “extreme satisfaction” with overall progress under the umbrella of SIFC and appreciated the enhancing level of engagements with friendly countries, both public and private entities, and the outreach strategy to proactively engage the investors’ community, which was translating into 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 operationalization 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 officials to keep the process at a “fast pace”.

The COAS reassured the “undaunted resolve” of the Pakistan Army to backstop government initiatives in various domains for sustainable recovery of the economy.