SIFC apex committee approves steps for economic recovery

PM Kakar arrives in New York to lead Pakistan’s delegation at UNGA

ISLAMABAD: The fifth session of the Special Investment Facilitation Council’s (SIFC) Apex Committee held on Friday, with a particular focus on enhancing the overall business and investment climate in the country, which is deemed essential for economic recovery.

The meeting was presided over by Caretaker Prime Minister Anwaar-ul-Haq Kakar and attended by various high-ranking officials, including the Chief of Army Staff, federal cabinet members, provincial chief ministers, and senior government representatives.

During the meeting, the relevant ministries presented their strategies and plans to address macroeconomic challenges, governance-related obstacles, and gaps in regulatory mechanisms. The goal was to attract both foreign and domestic investments and stimulate economic growth.

The committee engaged in discussions on a range of short, medium, and long-term measures aimed at achieving the anticipated economic benefits. The prime minister approved several practical steps that will be put into action as soon as possible.

The prime minister stressed the importance of delivering optimal results by the caretaker government, regardless of the limited time available, and emphasized the need to establish a strong foundation for the future government.

In a separate press conference, Caretaker Minister for Information and Broadcasting, Murtaza Solangi, highlighted that efforts are underway to encourage investments in the country. He also mentioned steps being taken to reduce government expenditures.

During the meeting of the Special Investment Facilitation Council, various issues, including smuggling, the exchange rate of the dollar, and the trade of essential commodities, were discussed.

Caretaker Minister for Finance, Dr. Shamshad Akhtar, expressed the intention to bolster social safety nets in the midst of structural adjustments. She underlined the government’s determination to enhance macroeconomic stability and ensure a consistent energy supply to the industrial sector.

Caretaker Minister for Commerce and Industries, Dr. Gohar Ejaz, emphasized the importance of opening markets for raw materials to make the industry more viable. He suggested that controlling inflation can be achieved by boosting exports.

Minister for Energy, Muhammad Ali, mentioned ongoing efforts to reduce losses in the power sector, and he noted that a reduction in raw material imports had impacted the export sector.



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