The Special Investment Facilitation Council (SIFC) restated on Thursday its resolve to attract foreign investment by eliminating the difficulties.
According to details, Prime Minister Shehbaz Sharif chaired over a meeting of the apex committee of the SIFC in Islamabad. The military direction, chief ministers, and the Azad Jammu and Kashmir prime minister attended the session.
The meeting revised strategies regarding the council’s objectives and future plans. Ministries informed the forum on the performance of special economic zones and the national mineral harmonization policy.
Meanwhile, the participants decided to accelerate investment in agriculture, information technology, mining, and tourism areas.
The committee reaffirmed its commitment to boost economic activities across the country. It emphasized the formation of a network of special economic zones. Officials utilized technology to recognize suitable locations for these zones.
The forum strained the need to simplify laws leading economic zones. Sources revealed that the committee also reviewed matters related to mining and recommended alterations to federal and provincial laws.
The committee restated its resolve to attract foreign investment by removing obstacles. It expressed fulfilment over improvements in economic indicators. Participants agreed to expedite measures to generate employment opportunities across various sectors.
PM Shehbaz stressed that economic development was directly connected to political stability as the strength of a country’s economy relied heavily on its political framework.
The premier said the country’s macroeconomic indicators had improved due to the consistent efforts of the economic team. He expressed confidence that 2025 would bring prosperity and growth in the country.
The prime minister noted that inflation eased to 4.1% for the first time since 2018, while foreign remittances increased by 34%. He said exports also rose, and foreign exchange reserves climbed from $4 billion to $12.5 billion. Highlighting monetary policy, he stated that the current policy rate stood at 13% and had potential for an 8% reduction based on the inflation rate.
