ISLAMABAD: Prime Minister Shehbaz Sharif has summoned a meeting of the apex committee of the Special Investment Facilitation Council (SIFC), mandated to form economic policies, to discuss strategies for attracting foreign investment to the country.
Scheduled to chair the meeting, Shehbaz Sharif will be joined by Army Chief General Asim Munir, federal ministers and other high-ranking officials to delve into issues concerning investment in Pakistan. Former Caretaker Prime Minister Anwaar-ul-Haq Kakar and members of the caretaker cabinet have also received special invitations to attend.
Meanwhile, following successful negotiations between Pakistan and the International Monetary Fund (IMF), a staff-level agreement has been reached, paving the way for Pakistan to receive $1.100 billion from the IMF. The Ministry of Finance has diligently met the targets set by the IMF within the stipulated time frame.
In a statement issued by the IMF, it commended Pakistan’s efforts to stabilize the economy and implement institutional reforms. The Executive Board is expected to grant final approval to the staff-level agreement in April. However, there are concerns regarding inflation exceeding targets for the current financial year in Pakistan.
The statement emphasized the need for Pakistan to address economic challenges and implement measures accordingly. It expressed hope that the newly elected government would prioritize economic objectives and work towards expanding the tax base to include sectors currently outside its purview.
