A high-level meeting of the Special Investment Facilitation Council (SIFC) Executive Committee was held Thursday under the chairmanship of the Caretaker Minister for Planning Development and Special Initiatives, Muhammad Sami Saeed, reported 24NewsHD TV channel.
The meeting was attended by the relevant federal and provincial ministers and senior government officials. The meeting, which will continue for two days, reviewed the progress of various policy-level initiatives and projects in important sectors.
The concerned ministries presented progress on various projects and related aspects and recommended various measures to further improve the business and investment environment.
The committee appreciated the overall progress in various fields and the level of economic ties with friendly countries, especially the signing of memorandums of understanding and agreements with the United Arab Emirates and the State of Kuwait. The committee directed the ministries to expedite work on plans to convert the agreements into reality.
The committee also examined the systemic issues related to the establishment of various economic zones and deliberated on various measures to improve the system of industrial development at the national level. The committee reviewed the ongoing process of privatization of State Owned Enterprises (SOEs) and directed the relevant stakeholders to expedite the process as per the stipulated time frame.
The committee formally approved the business and investment friendly SIFC visa facility which is an important milestone in creating an enabling environment for foreign investors. The SIFC visa facility will allow foreign investors to obtain a visa within 24 hours of applying online.