SIFC Expedites Implementation of Bilateral Investment Treaty with Saudi Arabia and Qatar
The Committee expressed satisfaction with the overall advancements in key sectors under the auspices of SIFC.
Karobar
On Wednesday, the Special Investment Facilitation Council (SIFC) issued directives to promptly translate the Bilateral Investment Treaty with Saudi Arabia and Qatar into tangible economic outcomes, as per a press release issued on the same day.
Additionally, the council commended the increasing level of economic collaborations with the United Arab Emirates and the State of Kuwait, respectively, and also instructed for swift progress in these developments.
These directives were articulated during the 8th meeting of the Apex Committee on January 3, 2024, where the council reviewed various projects and initiatives facilitated through the SIFC platform.
Federal Ministries reported on the progress of projects in key sectors and outlined plans for the timely realization of anticipated investments.
Progress on privatization was scrutinized, and the collaborative efforts of stakeholders in achieving critical benchmarks in a timely manner were appreciated. The committee directed the preservation of this momentum.
Furthermore, the committee examined advancements in measures to enhance the investment climate and approved policy-level interventions to better facilitate investors, including the reinforcement of domestic dispute resolution mechanisms.
Consensus was reached on expediting infrastructural development to assist investors, particularly in remote areas of the country.
The Committee acknowledged the ongoing inclusive approach to human resource development, catering to emerging needs in vital sectors of the economy.
Demonstrating a firm resolve, the committee pledged to take action against smugglers, hoarders, and market manipulators, recognizing their impact on the economic trajectory and emphasizing immediate relief for common citizens.
The Chief of Army Staff affirmed the unwavering commitment of the Pakistan Army to support government initiatives aimed at the economic recovery of the country.
Caretaker Prime Minister Anwaar-ul-Haq Kakar chaired the meeting, attended by the Chief of Army Staff, Federal Cabinet, Provincial Chief Ministers, and high-level government officials.
