Special Investment Facilitation Council Apex Committee meeting to be held today

ISLAMABAD: The Special Investment Facilitation Council (SIFC) Apex Committee is set to be held today, with Prime Minister, Shehbaz Sharif, presiding over the meeting.

The gathering will include chief minister, federal ministers and top military officials. Chief of Army Staff (COAS) General Asim Munir will attend as a special guest.

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The primary focus of Special Investment Facilitation Council Apex Committee meeting will be to discuss strategies aimed at attracting foreign investment and revitalising Pakistan’s economy.

The SIFC was established in 2023 as a federal government body and investment promotion agency. It was designed to serve as a ‘single window’ for potential investors.

The aim of the committee includes improving cooperation among government departments and advancing project development.

The government body aims to increase the foreign direct investment (FDI) in the cash-strapped Pakistan up to $5 billion.

The formation of the SIFC was a result of chronic economic issues the country has been facing for years, particularly following a decline in foreign investment during the Covid-19 pandemic.

While Pakistan has one of freest markets for investment since the time of Ayub Khan, bureaucratic hurdles, corruption, land mafia, chronic energy shortages and terrorism has deterred foreign investment for decades.

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The government body has a particular focus on the agriculture and informational technology (IT) sectors of the country.