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Global health experts to gather in Karachi for Health Asia Exhibition

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Global health

KARACHI: The 22nd Health Asia International Exhibition is being held to promote innovation, research, and global collaboration in Pakistan’s healthcare sector, marking a new chapter in the country’s medical advancement. Organized by E-Commerce Gateway Pakistan in collaboration with the Ministry of Health and supported by the Special Investment Facilitation Council (SIFC), the three-day event will … Read more

PM Shehbaz lauds WB’s role in country’s progress

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PM Shehbaz

ISLAMABAD: Prime Minister Shehbaz Sharif said that with the cooperation of the World Bank (WB), several key development projects were completed in Pakistan, which had been playing a vital role in the country’s progress.

The prime minister expressed these views during a meeting with the delegation of World Bank Executive Directors. He welcomed the delegation on their visit to Pakistan and said the partnership between the WB and Pakistan spanned over seven decades.

“Pakistan has greatly benefited from its partnership with the World Bank,” he said, adding the WB provided substantial assistance to the people affected by the 2022 floods in Pakistan.

The prime minister observed that recent Country Partnership Framework of the World Bank included an investment of $40 billion in Pakistan which was highly encouraging.

With $20 billion allocated for various projects in health, education, youth development, and other social sectors, a new chapter of progress would begin in Pakistan, he added.

The prime minister said that an additional $20 billion investment in Pakistan private sector under the International Finance Corporation (IFC) would accelerate the country’s economic growth.

Appreciating the WB trust in the government’s policies, he said Pakistan’s institutional and economic reform programme was moving rapidly.

“The country’s economy is on the right path and moving towards growth,” the press release quoted the prime minister as saying.

The prime minister observed that Pakistan’s exports and remittances were increasing, adding reduction in interest rates was boosting investment in the production sector,.

He further said that the government was introducing transparency in the system to control corruption.

Digitization remained a priority in the Federal Board of Revenue (FBR) reforms, he reiterated.

“The Special Investment Facilitation Council (SIFC) has created an attractive environment for investment in Pakistan, functioning under a unique system involving all stakeholders,” he added.

The delegation members praised Pakistan’s ongoing reform programme and its effective implementation.

They said under the leadership of Prime Minister Shehbaz Sharif, Pakistan’s journey of economic reforms was progressing fastly .

The delegation also appreciated the government’s reform measures in the energy, industrial and export sectors, privatization, revenue generation, and other key areas.

A nine-member World Bank Executive Directors delegation is currently visiting Pakistan, overseeing portfolios of various countries within the World Bank.

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SIFC pledges to facilitate foreign investment by addressing challenges

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SIFC pledges to facilitate foreign investment by addressing challenges

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. … Read more

PM Shehbaz commends SIFC’s role in country’s progress

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PM Shehbaz

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif said that the Special Investment Facilitation Council (SIFC) was playing a critical role in country’s progress and prosperity and thanked the provincial governments for expressing their confidence in SIFC.

Addressing a meeting of SIFC, the prime minister said that should work tirelessly to build a ‘Pakistan as perceived by their founding fathers and by acting upon the advices of Quaid-e-Azam Muhammad Ali Jinnah and Allama Muhammad Iqbal.’

The prime minister urged the provincial governments to further support the SIFC and move ahead in unison like a family to compensate for the losses of the past and overcome issues of poverty and hunger in the country.

He said that the federal government did not get enough for initiating development projects after distribution of resources among the provinces, therefore under such conditions all the governments should move together with unity.

Updating the members of SIFC about his recent visit to the United Arab Emirates, he said the UAE leadership had announced 10 billion dollars investment in Pakistan and expressed their complete confidence in SIFC. The leadership of brotherly countries and others as well were aware of the functioning of SIFC, he observed.

When SIFC was formed through legal procedures, certain concerns were expressed by a quarter but with the passage of time, its significance, efficiency and achievements had shut all kinds of criticism and everybody now fully supported its initiatives, he added.

The prime minister also cited his meeting with a German delegation that was also aware of the functioning of the SIFC.

The prime minister stressed that they should resolve today to achieve their targets as sky was the limit and would work day and night to transform Pakistan into something upon which the Pakistanis could feel pride.

The prime minister also underlined the need of capacity building and enhancing professionalism of experts in different fields. He said that he had already instructed the ministries clearly to hire consultants and experts and would soon seek their feedback.

The prime minister said that the digitization process of the Federal Bureau of Revenue had already commenced.

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Pakistan, KSA economic ties enter in new era: PM

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Pakistan

RIYADH: Prime Minister Shehbaz Sharif said that the economic ties between Pakistan and Saudi Arabia had entered a new era as both countries were set to take concrete measures to boost the volume of bilateral trade in the coming days.

The prime minister, in a meeting with Saudi Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi on the sidelines of the Special Meeting of World Economic Forum here, said the Special Investment Facilitation Council (SIFC) was playing an active role in promoting and facilitating the foreign investment in the country.

The Saudi minister told the prime minister that on the directives of Saudi Crown Prince and Prime Minister Mohammed bin Salman, the Kingdom was prioritising trade and investment in Pakistan.

A delegation of Saudi businessmen, traders and investors would soon visit Pakistan, he added. Pak-Saudi economic ties enter a new era with trade-boosting steps ahead: PM The Saudi minister said that the targets were being set to take the bilateral ties to a new height within one or one-and-half years.

Prime Minister Shehbaz said that the Pakistani nationals had played a significant role in the progress and prosperity of Saudi Arabia.

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Pakistan’s IT exports reach $2.28 billion milestone

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Pakistan IT Exports

Pakistan’s IT sector is experiencing a significant boom, with March 2024 marking a milestone in export growth. The Special Investment Facilitation Council (SIFC) has played a crucial role in fostering this expansion. March saw IT exports soar to a record $306 million, contributing to the sector’s overall performance. Over the first nine months of the … Read more

President Zardari emphasizes national unity , peace

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President Zardari national unity

President Asif Ali Zardari says that all stakeholders should work together for the security, stability, development, and prosperity of the country. President Asif Ali Zardari, while speaking at the Pakistan Day parade ceremony at Shakarparian Ground Islamabad, said that Pakistan will never compromise on its sovereignty, the Pakistani nation and armed forces are always ready … Read more

Election preparations complete in Pakistan: Murtaza Solangi

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Murtaza Solangi

Islamabad: Caretaker Federal Minister for Information Murtaza Solangi says that the arrangements related to the elections have been completed. While holding a press conference in Islamabad, Murtaza Solangi said that Pakistan is taking action against terrorists, our security forces are fully prepared for the elections, very good security arrangements have been made for the general … Read more

SIFC committee reviews bankable projects under accords concluded with UAE, Kuwait

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SIFC

ISLAMABAD: The Executive Committee of the Special Investment Facilitation Council (SIFC) met here and reviewed the viable banking projects under the Memorandums of Agreement and framework accords with the United Arab Emirates (UAE) and Kuwait.

The two-day meeting was held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Muhammad Sami Saeed.

The meeting reviewed various policy-level initiatives and the progress of projects under the SIFC.

The relevant ministries presented progress on various projects and policy initiatives and recommended concrete measures for further improving the investment climate.

The Committee appreciated the overall progress in various sectors and the level of economic engagements with investors, locally and globally.

It also reviewed progress regarding finalisation of bankable projects under the auspices of MoUs and Framework Agreements concluded with the United Arab Emirates and the State of Kuwait respectively.

The Committee directed ministries to fast-track the related work to convert these commitments into economic dividends.

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SIFC body approves policy level interventions to facilitate investors

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SIFC body approves policy level interventions to facilitate investors

ISLAMABAD: The Apex Committee of Special Investment Facilitation Council (SIFC) chaired by Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday reviewed progress on various measures being undertaken to improve the investment climate and approved various policy level interventions to further facilitate the investors including strengthening of domestic dispute resolution mechanism. The committee reviewed various projects and … Read more

SIFC approves business, investment-friendly visa facility

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SIFC approves business, investment-friendly visa facility

ISLAMABAD: A meeting of the Executive Committee of Special Investment Facilitation Council was held in Islamabad today with Caretaker Minister for Planning and Development Muhammad Sami Saeed in the chair. The Committee lauded the overall progress in diverse fields and the level of economic ties with friendly countries, especially the signing of Memorandums of Understanding … Read more

PM Kakar urges business community to take advantage of SIFC

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PM Kakar
  • PM was addressing ceremony for distribution of PSX awards.
  • ,He called for building and rebranding Pakistan through investment.
  • He urged corporate sector to explore opportunities in regions like ECO.

KARACHI: Caretaker Prime Minister Anwaar-ul-Haq Kakar reiterating the government’s commitment to providing a conducive environment and streamlining regulations, urged the local business community to take advantage of the Special Investment Facilitation Council (SIFC).

The prime minister, addressing the ceremony for distribution of Pakistan Stock Exchange (PSX) Awards to top 25 companies of the country for the year 2022, said the caretaker government’s ultimate goal was to provide a blueprint for the next government.

He said the government had sought help from the Pakistan Army to facilitate the business environment through the SIFC forum.

He told the gathering that the measures taken by the government, including the crackdown on smuggling, illicit foreign currency trade and power theft, had yielded results, triggering market sentiments and propelling the Pakistan Stock Exchange by 33% in November to the historic 60,000-point mark, besides boosting investors’ confidence.

Welcoming the private sector to invest and take advantage of the government’s measures, he called for building and rebranding Pakistan.

He said the privatization process was underway that would also have positive impacts on the economy.

The prime minister, who also distributed awards among the top 25 companies, said the PSX mirrored the vibrancy of the corporate sector and highlighted the symbiotic relations between the government’s policies and the prosperity of the businesses.

He emphasized the inherent responsibility of Corporate Social Responsibility (CSR), urging businesses to adopt it as a moral obligation rather than mere rhetoric. He also urged business leaders to embrace digital evolution and collaborate with higher education institutions.

Prime Minister Kakar urged the corporate sector to explore opportunities in regions like Economic Cooperation Organization (ECO), Caucasus, and the unexplored around 1.3 billion African population. He emphasized the need to prepare for $36 trillion trade activity expected to take place in China within 10-15 years.

He said Pakistan, a 240 million nation with immense natural resources like four seasons, mountains, and others as well as the youth bulge was destined to rise.

He said the award ceremony to recognize outstanding companies was a testament to cooperation between the government and the corporate sector.

In her address, Caretaker Finance Minister Dr Shamshad Akhtar expressed the synergies between the Pakistan Stock Exchange and her professional journey.

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PM hopeful of SIFC bringing in over $60b investment to Pakistan

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SIFC
  • One-window opportunity on platform of SIFC is primarily being designed.
  • Kakar said dispute resolution mechanism had been agreed under SIFC platform.
  • He hoped to conclude deal by December for Saudi Arabia to buy stakes in Reko Diq,

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar expressed the hope that the Special Investment Facilitation Council (SIFC) would help bring in over $60 billion investment to Pakistan in the next five years.

“It is indeed. It could be probably more than that,” the prime minister said in an interview with Arab News when asked whether the reports that the SIFC would bring in up to $60 billion in investments in Pakistan in the next five years were realistic.

He said the SIFC would serve as a “one-window operation” to address any concerns of foreign investors.

“Two or three areas have already been addressed, like repatriation of dollars, which is the demand of any FDI [foreign direct investment] entity, [that] it’s insured, it’s legally protected,” the prime minister said.

“Secondly, the bureaucratic red-tapism has also been addressed, the one-window opportunity on the platform of SIFC is primarily being designed for this purpose, that we need to cut off all these bureaucratic hurdles and rationalize the entire process of allowing and giving permission to any investment from outside within 15 days.”

He said a dispute resolution mechanism had been agreed under the SIFC platform.

“It’s quite encouraging and favourable, which is acceptable to all the outside parties … The dispute resolution mechanism has been addressed.”

To a question, he said the government hoped to conclude a deal by December for Saudi Arabia to buy stakes in Reko Diq, one of the world’s biggest gold and copper mining projects.

“We are quite excited at the Saudi offer, and we would be very much encouraging their participation, not just in this project but otherwise also,” Prime Minister Kakar said.

“It is the negotiation part, which is happening between the three parties, and let’s see what sort of outcome comes of that.”

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SIFC recommends policy measures to improve investment ecosystem

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SIFC
  • The relevant ministries presented progress on various aspects.
  • The Committee convened to review progress of various initiatives.
  • The Committee appreciated collaborative work of ministries.

ISLAMABAD: The Executive Committee for Special Investment Facilitation Council (SIFC) recommended certain policy measures to further improve the investment ecosystem in various key sectors of the economy.

The two-day 6th meeting of SIFC had begun on October, 23 and was chaired by Caretaker Federal Minister for Planning, Development and Special Initiatives, Muhammad Sami Saeed.

Among others, the meeting was attended by National Coordinator for SIFC, Dr Muhammad Jahanzeb Khan, SAPM (Governance Effectiveness), concerned Federal and Provincial Ministers and high-level government officials.

The relevant ministries presented progress on various aspects and made recommendations for further improving business and investment climate.

According to the statement, the Committee was convened to review the progress of various policy-level initiatives and projects in the key sectors.

The measures to catalyze new projects as well as removing hiccups in legacy projects, were also deliberated upon to gain investors’ confidence.

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PM calls for trickle down effect of SIFC initiatives in each province

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PM
  • PM said this while attending meeting of Provincial Apex Committee.
  • The forum briefed about revised National Action Plan and CPEC projects.
  • COAS highlighted Pakistan Army would provide full support.

QUETTA: Caretaker Prime Minister Anwaar-ul-Haq Kakar  emphasised that the initiatives taken by Special Investment Facilitation Council (SIFC) at the federal level should have a trickle-down effect in each province for the benefit of the people.

The prime minister said this while attending the meeting of the Provincial Apex Committee along with Chief of Army Staff (COAS) General Syed Asim Munir and Caretaker Chief Minister of Balochistan Ali Mardan Khan Domki.

During the Apex Committee meeting, the forum was briefed about the revised National Action Plan, law enforcement operations, anti-smuggling and anti-narcotics operations in Balochistan, security of foreign nationals employed on CPEC or non-CPEC private projects. The meeting was also briefed about the repatriation of illegal foreigners, foreign currency regularization measures, and progress on SIFC initiatives in Balochistan.

The prime minister expressed confidence in the progress made by the Balochistan government and assured full support of the federal government. During the session, Prime Minister Kakar emphasized that the socio-economic development of Balochistan was imperative for ensuring peace and development of the province.

The COAS highlighted that the Pakistan Army would provide full support in concert with the law enforcement agencies and other government departments for enforcement actions against spectrum of illegal activities with full force to deny pilferage of resources and economic losses that the country suffers due to these activities.

The prime minister said that Balochistan was rich with mines and minerals and that development in that sector would generate economic activity and job opportunities for the people of the area. Moreover, investments in agriculture and information technology should also be focused apart from human resource development, he added.

He underscored the need for synergy among all relevant departments for gainful effects of the initiatives. The participants affirmed that state institutions, government departments, and people were united for the progress and prosperity of the province.

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President calls for enhanced cooperation with KSA  

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KSA  
  • He said Pakistan highly valued its relations with KSA.
  • President apprised delegation Pakistan had constituted SIFC.
  • General Fayyadh said Pakistan and KSA enjoyed close ties.

ISLAMABAD: Pakistan and Kingdom of Saudi Arabia have reiterated their desire to further improve bilateral cooperation in the areas of trade, economy and defence.

This was discussed at a meeting between the visiting Chief of General Staff of the Saudi Armed Forces General Fayyadh bin Hamed Al-Ruwaili, who along with the members of his delegation, called on President Dr Arif Alvi, at Aiwan-e-Sadr.

Welcoming the delegation, the President said Pakistan highly valued its relations with the Kingdom of Saudi Arabia (KSA) which had always supported Pakistan at difficult times. He stated that both brotherly countries enjoyed excellent relations in various fields and had commonality of views on various regional and international issues. He reiterated Pakistan’s commitment to enhancing bilateral economic and financial ties with the Kingdom for the mutual benefit of two brotherly countries.

The President highlighted that Pakistan was looking for investment as the country had huge potential for the investment in the agriculture and IT sectors. He apprised the delegation that Pakistan had constituted a Special Investment Facilitation Council (SIFC) to serve as one window platform to fast-track decision making and facilitate Foreign Direct Investment in four key areas: Information Technology, Agriculture, Energy and Mining in the country, especially from the KSA.

Expressing satisfaction at the existing level of cooperation, the President said that the high-level exchanges of military leadership of two countries would further boost defence cooperation. He informed that he was highly impressed by the vision of Crown Prince Mohammad bin Salman that led to the normalisation of relations between the Kingdom and Iran and would also bring peace and prosperity to the region.

He appreciated the role played by the KSA in the Organization of the Islamic Countries for important Muslim causes, especially for Palestine, Kashmir and Afghanistan. He deeply thanked the Kingdom of Saudi Arabia for providing financial support to Pakistan to deal with its economic challenges. He asked General Fayyadh bin Hamed to convey his warm regards to the Custodian of the Two Holy Mosques, Crown Prince Mohammad bin Salman.

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SIFC Apex Committee focuses on efforts to improve business, investment

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ISLAMABAD: Special Investment Facilitation Council (SIFC) resumed the proceedings of the 5th Apex Committee meeting on Saturday focusing on efforts to improve business and investment climate in the country. The meeting was chaired by the caretaker Prime Minister Anwaar-ul-Haq Kakar and attended by the Chief of Army Staff, Federal Cabinet, Provincial Chief Ministers, and high-level … Read more

SIFC to continue working on fast-track foreign investment: PM

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SIFC
  • Caretaker PM met with with Saudi Ambassador.
  • Saudi ambassador congratulated PM on assuming office.
  • PM said Pakistan and Saudi Arabia enjoyed historic ties.

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar said that the recently-instituted Special Investment Facilitation Council (SIFC) would continue to work as before to lay the foundations to fast-track foreign investments, particularly from Saudi Arabia.

The prime minister, in a meeting with Saudi Ambassador Nawaf bin Saeed Ahmad Al-Malkiy, who called on him, highlighted energy, infrastructure, agriculture, IT and manpower as potential sectors of cooperation.

The Saudi ambassador congratulated the prime minister on assuming office and conveyed the best wishes and greetings on behalf of the Custodian of Two Holy Mosques, as well as Crown Prince Mohammed Bin Salman, and the people of Saudi Arabia.

The prime minister said that Pakistan and Saudi Arabia enjoyed historic and deep-rooted ties.

He thanked the Saudi government for its consistent support for Pakistan’s economic stability and development.

He particularly mentioned the large number of Pakistanis working in Saudi Arabia and requested the Saudi side to continue to extend all possible facilitation to them.

Prime Minister Kakar lauded the vision of the Saudi leadership and said that Saudi Arabia could always count on Pakistan as its trusted and reliable partner.

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SIFC approves projects for attracting investments

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investments
  • The meeting was chaired by Prime Minister Shehbaz Sharif.
  • He appreciated expeditious operationalization of SIFC.
  •  SIFC approved attracting investments from friendly countries.

ISLAMABAD: The third meeting of the Apex Committee of Special Investment Facilitation Council (SIFC) was held here to continue the positive momentum to attract investment in various sectors of economy.

The meeting was chaired by Prime Minister Muhammad Shehbaz Sharif and attended by Chief of Army Staff, chief ministers, federal and provincial ministers, and high-level government officials.

The prime minister appreciated the expeditious operationalization of SIFC in a short span and its efficient functioning through a collaborative approach.

The Apex Committee appreciated the global impact of the ongoing outreach strategy through seminars and project inaugurations; which would be augmented by the SIFC’s website, being launched shortly.

It gave final approval of the projects, presented by the ministries, for attracting investments from friendly countries, under the umbrella of SIFC, in key sectors of agriculture, livestock, mining, minerals, information technology and energy.

The Apex Committee showed all-out support for successful conduct of the upcoming visit of a high-level delegation from the Kingdom of Saudi Arabia to Pakistan through the SIFC platform. The prime minister directed to make this inaugural visit a momentous event.

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SIFC to ensure execution of foreign investment projects: PM

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foreign
  • Prime Minister said during meeting with Saudi delegation.
  • He said Pakistan was thankful to Saudi government.
  • Saudi Minister said establishment of SIFC was positive message.

ISLAMABAD: Prime Minister Shehbaz Sharif  said that the Special Investment Facilitation Council (SIFC) would ensure the immediate and uninterrupted completion of the projects of foreign investment in Pakistan.

The prime minister, in a meeting with a Saudi delegation led by Saudi Deputy Minister for Mining, Industries and Minerals Khaled bin Saleh Al-Mudaifer, said there existed immense investment opportunities in Pakistan, particularly in the mining sector.

Welcoming the delegation, the prime minister said Pakistan was thankful to the Saudi government and people for supporting Pakistan in every need of the hour.

“Pakistan is your second home. The brotherly relations between Pakistan and Saudi Arabia were of special significance. The whole Pakistani nation was grateful to Saudi King Salman and Crown Prince Mohammed bin Salman for supporting Pakistan in every difficult time,” he remarked.

The prime minister assured the delegation that not only the interim government but also the next elected government would keep on facilitating the investors.

He said the solar power project of 10,000 megawatts announced by the government was also a good opportunity for investment.

The Saudi minister said that the establishment of SIFC was a positive message to foreign investors in Pakistan. Saudi Arabia was keen to invest in the vast opportunities of investment in the mining sector of Pakistan, he added.

The Saudi minister appreciated the prime minister for the pro-investor measures particularly the establishment of the SIFC as it would lead to economic development.

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Pakistan has all ingredients to tap IT exports worth $25 bln: PM

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IT exports
  • He said investment in IT sector can fetch quick rewards.
  • PM said economic revival plan will be implemented.
  •  He said IT industry will have all facilitation.

ISLAMABAD: Prime Minister Shehbaz Sharif said that Pakistan had all the ingredients to increase its Information Technology (IT) exports to the tune of $25 billion in two to three years.

“Investment in the IT sector can fetch quick rewards and dividends and go a long way in addressing our unemployment problem,” he said on his tweet handle account.

The PM, who a day earlier attended the national seminar on untapping the IT potential of Pakistan, said the event held under the banner of the Special Investment Facilitation Council (SIFC) was a reflection of our collective resolve to make Pakistan an IT hub.

“The seminar, attended by all stakeholders from the public & private sectors, laid the groundwork for an IT revolution that the country so desperately needs,” he said.

He said, “The SIFC, which represents the whole-of-the-government approach, will ensure the provision of policy continuity and predictability in the IT, agriculture, mines and minerals, and defense production sectors.”

“Governments may come and go but the economic revival plan will be implemented with the same energy and passion,” he said.

“The IT industry will have all the facilitation, and it needs to grow under a one-window arrangement.”

“It is now on the industry leaders to access the most of the opportunity. I have my full faith in their ability,” he added.

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SIFC aims to remove obstacles in foreign investment: Planning Minister

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SIFC Ahsan Iqbal

Ahsan Iqbal said SIFC aims at streamlining the process for FDI by removing obstacles. He said the defence production industry has been brought under SIFC. Prime Minister Shehbaz Sharif chaired a meeting of the economic apex committee. ISLAMABAD: Planning Minister Ahsan Iqbal said the Special Investment Facilitation Council (SIFC) aims at streamlining the process of … Read more

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