Special Investment Facilitation Council: Difference between revisions
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== Performance== |
== Performance== |
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In 2024, the National Accounts Committee (NAC) reported that Pakistan's investment ratio has fallen to its lowest point in 50 years. Despite the efforts of the Special Investment Facilitation Council (SIFC), there has not been a notable increase in foreign or domestic investment.<ref>{{cite news |last1=Rana |first1=Shahbaz |title=Investment plummets to 50-year low |url=https://tribune.com.pk/story/2467866/investment-plummets-to-50-year-low |access-date=26 May 2024 |work=The Express Tribune |date=23 May 2024 |language=en}}</ref> |
In 2024, the National Accounts Committee (NAC) reported that Pakistan's investment ratio has fallen to its lowest point in 50 years. Despite the efforts of the Special Investment Facilitation Council (SIFC), there has not been a notable increase in foreign or domestic investment.<ref>{{cite news |last1=Rana |first1=Shahbaz |title=Investment plummets to 50-year low |url=https://tribune.com.pk/story/2467866/investment-plummets-to-50-year-low |access-date=26 May 2024 |work=The Express Tribune |date=23 May 2024 |language=en}}</ref> |
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The Special Investment Facilitation Council (SIFC) is credited for being responsible for boosting Pakistan’s exports, being responsible for its soar by over 10% in FY2024.<ref>{{Cite web |last=Shaikh |first=Anmol |date=2024-08-04 |title=SIFC initiatives fuel massive surge in Pakistan’s exports |url=https://tribune.com.pk/story/2485431/sifc-initiatives-boost-pakistans-exports-beyond-30-billion?amp=1 |access-date=2024-08-18 |website=The Express Tribune |language=en}}</ref> |
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==References== |
==References== |
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Revision as of 02:33, 18 August 2024
 | This article contains promotional content. (May 2024) |
| Type | Governmental |
|---|---|
| Purpose | To attract foreign investment and boost the country's economy |
| Location | |
Membership | All Provincial Chief Ministers and the Army Chief |
Chair | Shehbaz Sharif |
The Special Investment Facilitation Council (SIFC) stands as a council initiated under the leadership of Pakistani Prime Minister Shehbaz Sharif. Its primary objective is to entice foreign investments and stimulate the nation's economic growth. This council boasts a membership that includes all Provincial Chief Ministers, Chief Secretaries, and the Army Chief. Their immediate mission centers on elevating the Foreign Direct Investment (FDI) in Pakistan to the noteworthy sum of $5 billion.[1][2][3]
Background
The establishment of the SIFC was a direct response to the pressing requirement for economic revitalization, specifically addressing the obstacles posed by bureaucratic red tape and intricate regulations that act as deterrents to foreign direct investment (FDI). With the objective of facilitating smoother collaboration with Gulf Cooperation Council (GCC) nations, the SIFC strives to open up investment prospects spanning various sectors, including agriculture and information technology.[4]
Role and Function
The SIFC operates as a paramount decision-making platform aimed at spearheading essential structural reforms within the economy. In its initial phases, the forum will concentrate on harnessing the potential of pivotal sectors like information technology, agriculture, energy, mineral resources, mining, and defense production. A primary objective of the SIFC continues to be the attraction of investments from friendly nations.[1][5]
Performance
In 2024, the National Accounts Committee (NAC) reported that Pakistan's investment ratio has fallen to its lowest point in 50 years. Despite the efforts of the Special Investment Facilitation Council (SIFC), there has not been a notable increase in foreign or domestic investment.[6]
The Special Investment Facilitation Council (SIFC) is credited for being responsible for boosting Pakistan’s exports, being responsible for its soar by over 10% in FY2024.[7]
References
- ^ a b "PM assigns special council $5b foreign investment task". Nation.com.pk. 22 June 2023. Retrieved 2023-09-02.
- ^ "Briefing session for resident Diplomatic Missions held at Foreign Office, Islamabad". www.radio.gov.pk.
- ^ "New 'investment facilitation' council gives Pakistan army formal seat at economic table". Arab News PK. June 21, 2023.
- ^ "The Special Investment Facilitation Council's Role in Pakistan's Economic Resurgence". thediplomat.com.
- ^ Raza, Syed Irfan (August 8, 2023). "Special Investment Facilitation Council approves key projects to attract investment". DAWN.COM.
- ^ Rana, Shahbaz (23 May 2024). "Investment plummets to 50-year low". The Express Tribune. Retrieved 26 May 2024.
- ^ Shaikh, Anmol (2024-08-04). "SIFC initiatives fuel massive surge in Pakistan's exports". The Express Tribune. Retrieved 2024-08-18.