SIFC stresses on speeding up the privatisation process of SOEs

ISLAMABAD: Special Investment Facilitation Council (SIFC) has directed all the stakeholders to speed up the process of privatisation of State-Owned-Enterprises (SOEs).

As per a statement issued after the 7th meeting of SIFC on Thursday, the Committee reviewed and appreciated the progress on privatisation of SOEs and directed to keep the process at a fast pace. 

The Prime Minister directed all the stakeholders to vigorously pursue SIFC's initiatives through a collaborative approach to reap the dividend in short to medium terms besides, initiating processes for long-term endeavours in greater interest of the country.

SIFC held the 7th meeting of its Apex Committee to review various initiatives being led through the SIFC forum. The meeting was chaired by the Caretaker Prime Minister Anwaar-ul-Haq Kakar and attended by the Chief of Army Staff, Federal Cabinet, Provincial Chief Ministers and high level government officials. 

The ministries presented progress on projects identified in key sectors and gave plans to further improve the ecosystem for realising the envisaged investments in a timely manner.

As per details the committee showed extreme satisfaction on overall progress under the umbrella of SIFC, appreciated the enhancing level of engagements with friendly countries, both public and private entities, and outreach strategy to proactively engage investor’s community, which is translating in enhanced traction and approvals at domestic and global stage. 

The Committee reviewed the caretaker government’s progress on various measures undertaken to improve investment climate and approved policy level interventions to further improve investors’ confidence including repatriation of profits, strengthening domestic dispute resolution mechanism, infrastructural and human resource development and speedy operationalization of Export Import (EXIM) Bank of Pakistan. 

The Committee also directed to make a comprehensive strategy to address oil and gas issues in a sustainable manner by investing in relevant industries. 

The Chief of Army Staff reassured the undaunted resolve of Pakistan Army to backstop government initiatives in various domains for a sustainable recovery of the economy.