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SIFC Apex Committee Urges Timely Accomplishment of Privatisation Milestones

ISLAMABAD: The Special Investment Facilitation Council’s apex committee has emphasized the importance of timely completing various privatization milestones in collaboration with relevant stakeholders.

During a meeting on Saturday, the committee reviewed the progress on the privatization of state-owned enterprises (SOEs) and expressed satisfaction with the ongoing efforts.

Prime Minister Shehbaz Sharif presided over the meeting, which included Chief of the Army Staff General Syed Asim Munir, federal cabinet members, provincial chief ministers, and high-level government officials. The committee reviewed various initiatives and projects under the SIFC’s scope.

Ministries provided comprehensive progress reports on various projects and policy initiatives being guided through the hybrid civil-military forum, presenting plans for future milestones.

The committee expressed “profound satisfaction” with the overall progress and commended the federal ministries, provincial governments, and associated departments for their roles in achieving the envisioned outcomes. The facilitation provided by the SIFC platform in improving the country’s macroeconomic conditions was also appreciated.

Progress on economic collaboration with friendly countries was reviewed, with the committee noting the recent increase in trade and investment engagements under government-to-government and business-to-business frameworks. The committee called for an efficient follow-up mechanism to transform these commitments into tangible projects and economic benefits swiftly.

The apex committee reiterated its commitment to enhancing the investment ecosystem, directing efforts to make it more investment-friendly through sustainable policy initiatives.

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

Prime Minister Shehbaz praised the SIFC and affiliated stakeholders for their role in driving investment and privatization, calling for a fast-tracked approach through the “Whole of the Government” strategy to support the country’s economic stability.

Prime Minister Shehbaz urged provincial governments to further support the SIFC, describing its role in the country’s progress as “critical.” He thanked the provincial governments for their confidence in the SIFC but called for more unified efforts to address issues of poverty and hunger.

He mentioned the UAE’s decision to allocate $10 billion for investment in Pakistan. Despite initial concerns about the SIFC, its significance, efficiency, and achievements have garnered widespread support.

Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur attended the apex committee meeting following an intervention by KP Governor Faisal Karim Kundi, which led to an invitation from the prime minister. Initially, Gandapur was not invited, unlike other chief ministers. KP’s Barrister Saif confirmed that Gandapur had received an invitation.

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