KARACHI: Senior Vice President of the Pakistan Business Forum (PBF) Amna Munawwar Awan said the Special Investment Facilitation Council (SIFC) is playing a pivotal role in taking the country’s economy on the path of development and restoring the confidence of the world.
As a result of these efforts, China, Russia and Brazil have recently expressed their desire to invest in various sectors of Pakistan.
While addressing the steering committee, she said the SIFC is a ground-breaking initiative that has redefined Pakistan’s approach to attracting investments and fostering economic growth. By providing a unified platform for decision-making and facilitating seamless coordination among key stakeholders, SIFC has set a new benchmark for economic governance and investment facilitation in Pakistan.
The SIFC’s core mission to streamline processes, remove bottlenecks, and offer a one-window solution for investors addresses the long-standing challenges that have hindered Pakistan’s potential as a global investment destination.
This initiative has introduced unprecedented levels of transparency, efficiency, and responsiveness, which are critical for building investor confidence and driving long-term economic stability.
However a well developed regulatory framework that simplifies procedures, reduces bureaucratic burdens, and improves transparency will attract more investors.
Similarly bringing synergy in different institutions, and cutting down on red tape enhances predictability and modernisation. Entrepreneurs and corporations will be better positioned to significantly increase their investments in the national economy. This influx of investment will drive stronger economic growth and improved social welfare.
“She also said SIFC should push the government to come up with cutting edge policies for industrial revival, smart agriculture and scaling up IT Services.”
Amna Awan further told the priority sectors must be offered to the private sector for joint ventures with suitable partners. The state’s job is to provide incentives and reduce red tape.
As PBF viewed the SIFC needs to remain focused on the facilitation of business transactions rather than developing and promoting business transactions.
In that latter should be left to the private sector. Both G2G and private sector joint ventures require very difficult skill sets and approaches.
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