The Special Investment Facilitation Council (SIFC) stands as a council initiated under the leadership of Pakistan's former Prime Minister, Shehbaz Sharif. Its primary objective is to entice foreign investments and stimulate the nation's economic growth. This council boasts a membership that includes all Provincial Chief Ministers and the Army Chief. Their immediate mission centers on elevating the Foreign Direct Investment (FDI) in Pakistan to the noteworthy sum of $5 billion.[1][2][3]
| Type | Governmental |
|---|---|
| Purpose | To attract foreign investment and boost the country's economy |
| Location | |
Membership | All Provincial Chief Ministers and the Army Chief |
Founder | Shehbaz Sharif |
Background edit
The establishment of the SIFC was a direct response to the pressing requirement for economic revitalization, specifically addressing the obstacles posed by bureaucratic red tape and intricate regulations that act as deterrents to foreign direct investment (FDI). With the objective of facilitating smoother collaboration with Gulf Cooperation Council (GCC) nations, the SIFC strives to open up investment prospects spanning various sectors, including agriculture and information technology.[4]
Role and Function edit
The SIFC operates as a paramount decision-making platform aimed at spearheading essential structural reforms within the economy. In its initial phases, the forum will concentrate on harnessing the potential of pivotal sectors like information technology, agriculture, energy, mineral resources, mining, and defense production. A primary objective of the SIFC continues to be the attraction of investments from friendly nations.[1][5]
See also edit
References edit
- ^ a b "PM assigns special council $5b foreign investment task". Nation.com.pk. 22 June 2023. Retrieved 2023-09-02.
- ^ "Briefing session for resident Diplomatic Missions held at Foreign Office, Islamabad". www.radio.gov.pk.
- ^ "New 'investment facilitation' council gives Pakistan army formal seat at economic table". Arab News PK. June 21, 2023.
- ^ "The Special Investment Facilitation Council's Role in Pakistan's Economic Resurgence". thediplomat.com.
- ^ Raza, Syed Irfan (August 8, 2023). "Special Investment Facilitation Council approves key projects to attract investment". DAWN.COM.