Decision-making authority on internal economic matters is also handed over to SIFC

Islamabad: The government has expanded the scope of the Special Investment Facilitation Council (SIFC) and given decision-making authority on domestic economic matters to the SIFC to address the concerns of local investors and revive the ailing economy. Can be built.

The agenda of the fifth session of SIFC’s Executive Committee was not limited to providing assistance to foreign investors, but internal matters were also discussed in this meeting, which shows that the focus of SIFC is now only It is not limited to the support of foreign investors.

This forum with civil-military leadership is now empowered to review performance of ministries, settlement of disputes between investors and government agencies, allocation of gas to various sectors, water supply schemes in various cities, arrangement of revolving credit and curbing oil smuggling. This forum has

In the SIFC meeting, the privatization of PIA and the performance of diplomatic missions abroad were also reviewed. .

Also read: Investment of billions of dollars, SIFC will achieve this goal?

It should be noted that the Apex Committee is chaired by the Prime Minister while the Army Chief also participates in the Apex Committee while the Executive Committee is chaired by the Minister in charge of Planning.

A senior Pakistani official on condition of anonymity said that during the army chief’s recent meetings with local investors in Karachi and Lahore, the businessmen had made the army chief aware of the scope of SIFC for economic improvement. There is a need to extend the car to local industries.

In its fifth session, the Executive Committee has agreed on a proposal to allow information technology exporters to deduct 50 per cent of their income from the current 35 per cent.

Another official said that unless the local investor is satisfied, no major investment from outside is possible. According to this, the chief secretary of a province has also objected to it.