The Special Investment Facilitation Council’s apex committee has called for the timely accomplishment of various privatisation milestones in collaboration with relevant stakeholders.

In a meeting on Saturday, the committee reviewed the progress on the privatisation of state-owned enterprises (SOEs) and expressed satisfaction with the ongoing process.

The meeting was convened to review various initiatives and projects under the SIFC’s ambit. Prime Minister Shehbaz Sharif presided over the meeting. Chief of the Army Staff General Syed Asim Munir, federal cabinet members, provincial chief ministers and high-level government officials attended the meeting.

Ministries gave comprehensive progress reports on various projects and policy initiatives being steered through the hybrid civil-military forum, and proffered plans for accomplishment of set milestones in the future.

The committee exhibited “profound satisfaction” on the overall progress achieved so far and appreciated the role of federal ministries, provincial governments and associated departments in realising the envisioned dividends.

It appreciated the facilitation provided by the SIFC platform for improving the macroeconomic conditions of the country.

The progress on ongoing economic collaboration with friendly countries was also reviewed by the forum, appreciating the recent upsurge in trade and investment related engagements under government-to-government and business-to-business frameworks. The committee gave directions for a follow-up mechanism to transform such commitments into tangible projects and economic dividends, at a fast pace.

The apex committee reiterated its commitment to improve the investment ecosystem and gave directions to make it more investment-friendly through sustainable policy initiatives.

COAS Munir reassured the “firm resolve” of the Pakistan Army to “backstop government’s initiatives” for the economic prosperity of the country and the socio-economic well-being of its people.

PM Shehbaz appreciated the SIFC role and affiliated stakeholders for steering the investment and privatisation drive, in a “befitting manner”. He called for fast-track various initiatives through the “Whole of the Government” approach and playing a constructive role towards the economic stability of the country.

PM Shehbaz urges provincial governments to further support SIFC

Prime Minister Shehbaz Sharif has described the SIFC’s role in the country’s progress as “critical” and thanked the provincial governments for expressing their confidence in SIFC.

But he has asked for more from four provinces.

Addressing the SIFC meeting, he stressed the need for moving ahead in unison like a family to “compensate for the losses of the past and overcome issues” of poverty and hunger in the country.

The federal government did not get enough to initiate development projects after the distribution of resources among the provinces, therefore under such conditions all the governments should move together with unity, he added.

He also mentioned the United Arab Emirates decision to allocate $10 billion for investment in Pakistan.

When SIFC was formed through legal procedures, certain concerns were expressed by a quarter but with time, the premier said that its “significance, efficiency and achievements had shut” all kinds of criticism and everybody fully supported its initiatives.

Also, read this

Pakistan, KSA need to speed up first phase of Saudi investments: PM Shehbaz

Pakistan offers long term visas for investors, IT courses for 200,000 youth

US visit: COAS dispels rumours of special screening, denial of visas

Gandapur attends meeting

Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur also attended the apex committee meeting amid the province’s tiff with the federal government.

PM Shehbaz had finally invited Gandapur to the meeting only after KP Governor Faisal Karim Kundi intervened.

Gandapur was not originally invited by the prime minister who did extend invites to all other chief ministers. KP’s Barrister Saif confirmed that the chief minister had received an invitation.