Special Investment Facilitation Council approves key investment initiatives

Special Investment Facilitation Council approves key investment initiatives

• The Prime Minister praises the council’s effective approach and the army chief’s unprecedented contributions
• Assures Chinese investors that CPEC procedures will be streamlined and emphasises ‘genuine implementation’

Monday’s third apex committee meeting of the Special Investment Facilitation Council (SIFC) in ISLAMABAD approved multiple projects presented by various ministries to attract investments from friendly countries under the council’s auspices in key sectors such as agriculture, livestock, mining, minerals, information technology, and energy.

Prime Minister Shehbaz Sharif presided over the meeting, which was accompanied by Chief of Army Staff (COAS) Gen Syed Asim Munir, chief ministers, federal and provincial ministers, and high-ranking officials.

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According to the Prime Minister’s Office, the PM admired the speedy implementation of SIFC in a brief period of time and its effective operation through a collaborative approach.

The meeting lauded the global impact of the ongoing outreach strategy through seminars and project launches, which will soon be supplemented by the introduction of SIFC’s website.

The apex committee voiced its complete backing for the successful execution of the forthcoming visit of a high-level delegation from the Kingdom of Saudi Arabia to Pakistan via the SIFC platform. The prime minister directed that this inaugural visit be a momentous occasion.

The committee reaffirmed its commitment to the SIFC initiative and urged the interim government to maintain the momentum for a constructive contribution.

Chinese financiers

Earlier, PM Shehbaz assured Chinese investors of further simplification of procedures for companies operating in Pakis­tan, notably under the auspices of the China Pakistan Eco­nomic Corridor (CPEC) and strict implementation of these measures.

He reassured the Chinese investors that the challenging period was over, stating, “We are going to do this under one umbrella as a one-window operation, and I mean this in letter and spirit… not just in words, but in action.”

Prime Minister Shehbaz stated at an award ceremony that the Chinese government and businesses had contributed to Pakistan’s industrial advancement in a variety of sectors, and that their contributions had not only led to the creation of employment opportunities and an increase in industrial production, but had also strengthened bilateral economic ties.

Earlier, the prime minister presented awards to the most successful Chinese companies, particularly those working on CPEC initiatives in Pakistan. According to him, China has so far invested $30 billion in CPEC, which has significantly altered Pakistan’s economic landscape.

Now we are entering the second phase of CPEC, in which multiple new areas, such as the green corridor, information technology, and special economic zones, are being incorporated.

The prime minister stated that the army chief’s personal contribution to SIFC was unprecedented.

The PM added, “He [COAS] is completely devoted to advancing the cause of Pakistan and helping educated and talented individuals who are unemployed.”

“The SIFC program will complement the entire CPEC mechanism and serve as a catalyst for Pakistan’s industrial and agricultural development,” he explained.

The Charged’Affairs of the Chinese Embassy in Pakistan, Pang Chunxue, stated that the CPEC, as the pilot project of the Chinese Belt and Road Initiatives, has made significant contributions to the country’s socioeconomic development since its inception in 2013. She stated that China would always stand resolutely with Pakistan and work with Pakistan to coordinate its development and security efforts.

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