Shahbaz Sharif government, which ended on August 12, established Special Investment Facilitation Council (SIFC) to remove obstacles in way of foreign investment. Analysts say that establishment of the council seems to be aimed at prolonging government’s tenure indefinitely because, in a two-and-a-half-month government, foreign investors will come to invest in your country, while foreign investment is 21 percent earlier. It has decreased.
According to the details, the government has prepared a national plan for the economic recovery of Pakistan. Chief of Army Staff, all chief ministers, federal and provincial ministers, and senior government officials participated in the first meeting of the council chaired by Prime Minister Shahbaz Sharif.
The government of Pakistan has released a comprehensive strategy for the ‘economic recovery’ of Pakistan today in a high-level meeting. The purpose of this national strategy prepared under the title of ‘Economic Revival Plan’ is to get rid of the current economic problems and crises faced by Pakistan and pave the way for foreign investment.
In the first meeting of the ‘Special Investment Facilitation Council (SIFC) established to remove obstacles in the way of foreign investment under the chairmanship of Prime Minister Shahbaz Sharif, the Chief of Army Staff, all Chief Ministers, Federal and Provincial Ministers and Top government officials attended.
Under the plan, Pakistan’s real potential in sectors such as agriculture, livestock, minerals, mining, information technology, energy, and agricultural production will be utilized.
Under the project, local productivity of Pakistan and investment from friendly countries will be increased through these sectors.
Under the plan, the concept of ‘one government’ and ‘collective government’ will be promoted to remove all barriers to investment and business activities.
Special Investment Facilitation Council (SIFC) has been created to speed up the implementation of the project, which will act as a ‘single window’ facility to facilitate investors and investments.
Under the project, cooperation will be created between the federal and provincial governments. Lengthy and cumbersome bureaucratic procedures and regulations will be reduced. Cooperation and collaboration mechanism will be adopted. Timely decision-making regarding investments and projects will be ensured while implementation of projects with clear timelines will be ensured. Coordination will be brought between the federation and the provinces to end the tendency of dual efforts on the same issue.
The high level of participation of the Federation and the provinces is a clear expression of the national commitment to economic recovery despite all the difficulties.
Speaking on the occasion, Chief of Army Staff General Syed Asim Munir assured that the Pakistan Army fully supports the efforts of the government to implement the plan of economic recovery and that it will contribute to the socio-economic well-being of Pakistan and its rightful place in the world. Considers the basis for regaining position.
The Prime Minister reminded that the current government inherited an economy on the brink of collapse, which is being brought out of crises and brought back to construction and development through difficult and courageous decisions.
The Prime Minister said that there are huge challenges ahead of us right now. Export-enhancing foreign direct investment is key to economic recovery. Therefore, the government has decided to adopt a partnership approach in the federation and provinces for effective implementation by adopting collective thinking.
He said that investors will be given top priority and approval process related to projects will be expedited through collaboration.
Shahbaz Sharif said that the expected investment will create new employment opportunities. Youth and women will get employment, new possibilities of development will be created. Our focus is to enable youth and women to express their full potential. They have to be empowered.
The Prime Minister said that let’s resolve to work together to the best of our ability and not let our focus wander. We can change the destiny of Pakistan and its people. But for this we have to work continuously and hard and keep the country and nations on the path of development and prosperity while maintaining the direction.
Prime Minister Shehbaz Sharif said that Pakistan and its people have the right to be sidelined with economic development and prosperity, it is the responsibility of all of us who have been entrusted with this duty by Allah.
Comment
Commenting on the government plan, economists say that the government plan is undoubtedly very great, but the problem is that the government does not have time, so where will the investment come from, because if the investment comes in two and a half years. The big thing is Maya is a later story.
Analysts say that today is June 21, according to the constitution, the term of this government ends on August 12, which investor will come to invest in you. The second thing is that if the investors of your country are fleeing, how will foreign investors come to invest in your country?
Reports
According to a recent report, both Pakistan’s remittances and exports have declined massively, with foreign direct investment (FDI) falling by 21 percent over the past 11 months excluding May. In the month of May, revenue increased on both month-on-month and year-on-year basis.