SIFC coordinator highlights economic reforms

LAHORE: National Coordinator of the Special Investment Facilitation Council (SIFC) Lt General Sarfraz Ahmed has expressed confidence that Pakistan’s economic conditions are improving rapidly and that the business community will benefit from these positive developments. He made these remarks during his visit to the Lahore Chamber of Commerce and Industry (LCCI).

Highlighting key economic reforms, he said that industrialisation is a priority for the SIFC, which is set to introduce major reforms in special economic zones (SEZs). He stressed the need for transparency in SEZ frameworks to ensure collective benefits. He also appreciated Minister for Power Awais Laghari for his relentless efforts in reducing electricity prices to support industrial growth.

Discussing human resource development, he underscored Pakistan’s potential to generate substantial foreign exchange through skilled labour exports and industrial expansion. He urged business chambers and associations to present joint proposals to maximise economic gains.

LCCI President Mian Abuzar Shad commended the SIFC for steering the economy towards stability, citing improvements in the exchange rate, a decline in inflation, and easing living costs for the people. Senior Vice President Engineer Khalid Usman emphasised the need to promote local investment alongside foreign direct investment (FDI).

SAARC Chamber Vice President Mian Anjum Nisar noted that sustained economic progress depends on facilitating exporters and streamlining visa processes for businesspeople. He also stressed that lowering electricity costs is crucial for enhancing Pakistan’s global competitiveness.