Planning Minister Ahsan Iqbal says Special Investment Facilitation Council is a significant step to enhance Foreign Direct Investment, boost investors’ confidence and revamp Pakistan’s economy.
Addressing a news conference in Islamabad this evening, he said SIFC will play a pivotal role for the progress and development of vital sectors of country including agriculture, energy, Information Technology, Minerals and Defense Production.
Ahsan Iqbal said SIFC is a platform with whole of government to approach vertically and horizontally with complete participation of the federal and provincial governments as well as all the ministries and key state institutions.
He said under this umbrella all possible facilitation will be provided to foreign investors to create a business friendly environment in the country.
The Planning Minister further said that SIFC aims at streamlining the process for FDI by removing obstacles.
He said all the issues related to the issuance of the visas to investors will be resolved under the banner of SIFC. He said it will open new avenues of development for Pakistan.
The Minister further said the government is also giving priority to the agriculture sector to enhance per acre yield. He said special incentive is being offered to investors in the field of renewable energy.
Highlighting the vast potential of Information Technology, Ahsan Iqbal said a viable mechanism is being developed to enhance IT exports, develop the Joint Ventures and attract Foreign Investment in this sector.
The Minster said minerals is another priority sector under the SIFC and it is an encouraging sign that a giant mining company is working on the Reko diq project, which will ensure Pakistan’s presence on the mining landscape worldwide.
He said keeping in view the enormous potential of defence production’ industry, it has been decided to put this industry under the auspices of SIFC.
He expressed satisfaction that Pakistan is producing high-tech military hardware ranging from pistols to tanks and aircrafts which not only fulfill its defense needs but country also export these weaponry.
Source: Radio Pakistan