SIFC panel reviews progress in key sectors’ projects

ISLAMABAD: The Special Investment Facilitation Council (SIFC) on Wednesday convened the 12th meeting of its Executive Committee to review progress on various aspects and projects under key sectors of the council.

The committee also gave directions to expedite various pending cross-sectoral matters through policy-level initiatives and stakeholders’ consultation, utilising the forum of SIFC.

The meeting was chaired by Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, and attended by relevant federal ministers, SIFC national coordinator, federal secretaries, provincial chief secretaries and high-level government officials, said a press release issued here.

The ministries presented progress on various projects and policy-level initiatives, being steered through the SIFC, and gave comprehensive plans for fast-tracking various matters. The committee discussed and developed a consensus on major policy aspects concerning industry, agriculture and livestock, mines and minerals, oil and gas, ports and maritime, aviation and connectivity and infrastructure.

It also reviewed the progress and gave directions for swift implementation of the Special Economic Zones (SEZs) Framework, which has been recently approved by the 11th Apex Committee meeting. The executive committee highlighted that close coordination and cooperation amongst the stakeholders is imperative to foster industrialisation and efforts to rejuvenate the SEZs paradigm will act as catalyst in this endeavour.

It appreciated the ongoing efforts for granting industry status to warehousing and logistics sector and gave directions to expedite the approval processes. The committee highlighted that such policy initiative will unlock investments for developing modern supply chain infrastructure to support exports, agriculture and manufacturing sectors, with the potential to place Pakistan as the preferred country in the global and regional supply chain paradigm.

The SIFC also reviewed the progress and gave directions to expedite various infrastructure-related aspects of ports and shipping, including fresh dredging of the ports’ channels and optimisation of terminal handling to facilitate exports of mineral products and imports of various commodities.