The federal government has constituted the ‘Special Investment Facilitation Council (SIFC) to provide an impetus to the government’s efforts for economic revival — to be chaired by the prime minister and comprising the army chief and senior federal minister.
The notification in this regard has been issued by the PM Office.
“Pursuant to the meeting held on Friday, 2nd June, 2023 with regard to attracting investment from GCC countries in the fields of defence, agriculture, minerals, IT and energy, the prime minister has been pleased to constitute ‘Special Investment Facilitation Council’ (SIFC),” the notification read.
The announcement comes a day after the government unveiled an elaborate ‘Economic Revival Plan’ with a view to capitalise on Pakistan’s untapped potential in key sectors, fast-track the development projects and facilitate investment.
The plan was unveiled during a high-level meeting chaired by Prime Minister Shehbaz Sharif in Islamabad, which was attended by Chief of Army Staff General Asim Munir, chief ministers, federal and provincial ministers, and other high-level government officials.
During the meeting, COAS Munir assured all-out support to complement the government’s plan for the revival of the economy.
As per the notification, the SIFC is a three-tier composition having an apex, executive committee and implementation committees.
The apex body will have the prime minister, federal ministers (planning, finance, IT & Telecom, food security, power, water resources, industries and production, defence, defence production and investment), chief of the army staff, all chief ministers, national coordinator (Pakistan Army) and Special Assistant to the Prime Minister shall act as Secretary to the body.
However, the executive committee will consist of the planning minister, national coordinator (Pakistan Army), federal ministers (defence, food security, IT & Telecom and Power), state ministers (petroleum and finance), provincial ministers (agriculture, mines and minerals, IT, energy, Board of Revenue, irrigation, finance, planning and development and investment), SAPM, chief secretaries, director general (Pakistan Army), secretary Board of Investment.
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