Tuesday, 28 November 2023, 03:00:00 pm
Economists say Special Investment Facilitation Council will benefit foreign investors
September 26, 2023

Muhammad Zameer Assadi (Economist): Prime Minister Anwaar ul Haq Kakar's invitation to foreign investors is not only warm but also holds great promise. It signals a pivotal opportunity for international businesses to channel their investments into Pakistan. The Prime Minister has extended a special invitation to the Pakistani diaspora, encouraging them to seize the favorable investment climate in the country, particularly in sectors such as livestock, agriculture, mining, gems, and jewelry. Such investments are poised to make significant contributions to the enhancement of Pakistan's economy. In tandem with the ongoing China Pakistan Economic Corridor, which has seen substantial Chinese investments in energy, power projects, infrastructure development, and agriculture, there remains ample room for other investors to participate and contribute to Pakistan's growth story. The establishment of the Special Investment Facilitation Council offers an enticing platform, geared towards providing comprehensive support to foreign businesses, while simultaneously dismantling bureaucratic obstacles that may impede their progress.

Rana Ihsaan Afzal (Economist): The primary objective of the Special Investment Facilitation Council (SIFC) is to function as a comprehensive, one-stop facilitation center. It comprises representatives from both federal and provincial levels of government, with the inclusion of military authorities as well. SIFC is currently focusing its efforts on various sectors, such as agriculture, mining, and gems and jewelry, with the aim of attracting foreign investors. One of its key roles is to expedite the approval process for foreign investors, ensuring that there are no unnecessary delays. This streamlined approach is expected to encourage an annual influx of 10 to 15 billion dollars in investments to Pakistan. Over time, the potential for increased investment is significant.