Organization:Special Investment Facilitation Council
| Formation | 17th, June, 2023 |
|---|---|
| Type | Governmental organization |
| Purpose | Economic revival of Pakistan, attract Foreign Direct Investment |
| Headquarters | 2nd Floor, Prime Minister's Secretariat, Islamabad |
| Location | |
Membership | All Provincial Chief Ministers and the Army Chief |
Founder | Shehbaz Sharif |
Parent organization | Prime Minister's Secretariat |
| Website | www |
The Special Investment Facilitation Council (SIFC) stands as a council initiated under the leadership of Pakistan's former Prime Minister, Shehbaz Sharif. Its primary objective is to entice foreign investments and stimulate the nation's economic growth. This council boasts a membership that includes all Provincial Chief Ministers and the Army Chief. Their immediate mission centers on elevating the Foreign Direct Investment (FDI) in Pakistan to the noteworthy sum of $5 billion.[1][2][3]
Background
The establishment of the SIFC was a direct response to the pressing requirement for economic revitalization, specifically addressing the obstacles posed by bureaucratic red tape and intricate regulations that act as deterrents to foreign direct investment (FDI). With the objective of facilitating smoother collaboration with Gulf Cooperation Council (GCC) nations, the SIFC strives to open up investment prospects spanning various sectors, including agriculture and information technology.[4]
Role and Function
The SIFC operates as a paramount decision-making platform aimed at spearheading essential structural reforms within the economy. In its initial phases, the forum will concentrate on harnessing the potential of pivotal sectors like information technology, agriculture, energy, mineral resources, mining, and defense production. A primary objective of the SIFC continues to be the attraction of investments from friendly nations.[1][5]
Criticism
As with many aspects of current affairs in Pakistan, SIFC also contributes to deepen the impression of Army Chief meddling in civilian matters.[6][7][8][9]
Structure
SIFC is an inclusive organization with representation from federal and provincial stakeholders in all tiers, besides Army’s representation for facilitation.
SIFC has three committees i.e. Apex Committee, Executive Committee and Implementation Committee.
Apex Committee
Apex Committee is headed by Prime Minister and includes Federal Cabinet, Chief Ministers of provinces and Chief of Army Staff on special invitation from the Government. Apex Committee will have the prerogative to co-opt any member at any of the tiers of SIFC to make it more representative and effective. The committee will meet on bi-monthly basis for review of progress.
| Executive body | Designation | Incumbent |
|---|---|---|
| Caretaker Prime Minister of Pakistan | Chairman | Anwaar-ul Haq Kakar |
| Special Assistant to Prime Minister on SIFC(SAPM) | Secretary to the Apex Committee SIFC | Dr Jehanzaib Khan |
| National Coordinator SIFC (CGS Pak Army) | Member | Lt General Avaist Dastagir |
| Ministry of Planning and Development | Member | Sami Saeed |
| Ministry of Finance | Member | Shamshad Akhtar |
| Ministry of IT & Telecom | Member | Umar Saif |
| Ministry of National Food Security and Research | Member | Kauser Abdullah Malik |
| Ministry of Energy | Member | Muhammad Ali |
| Ministry of Water Resources | Member | Ahmed Irfan Aslam |
| Ministry Industries and Production | Member | Gohar Ejaz |
| Ministry of Defence Production | Member | Lt Gen (R) Anwar Ali Hyder |
| Ministry of Defence | Member | Lt Gen (R) Anwar Ali Hyder |
| Chief of Army Staff | Member by special invitation | Syed Asim Munir Ahmed Shah |
| Provincial executive body | Designation | Incumbent |
| Caretaker Chief Minister of Punjab | Member | Mohsin Naqvi |
| Caretaker Chief Minister of Sindh | Member | Maqbool Baqar |
| Caretaker Chief Minister of Balochistan | Member | Ali Mardan Domki |
| Caretaker Chief Minister of Khyber-Pakhtunkhwa | Member | Azam Khan |
Executive Committee
Executive Committee is headed by Minister of Planning, Development & Special Initiatives and a National Coordinator representing Pakistan Army besides, representation of concerned Federal and Provincial Ministers, Federal Secretaries, Provincial Chief Secretaries and Secretary Board of Investment. It will meet on monthly basis for review of progress.
| Executive body | Designation | Incumbent | |
|---|---|---|---|
| Ministry of Planning | Chairman | Sami Saeed | |
| Special Assistant to Prime Minister (SAPM) on SIFC | Dr Jehanzaib Khan | ||
| Secretary SIFC Secretariat (Additional Secretary BOI) | Secretary Executive Committee | Jamil Ahmad Qureshi | |
| National Coordinator SIFC (CGS Pak Army) | Member | Lt General Avais Dastagir | |
| Director-General SIFC Secretariat (Major general Pakistan Army) | Member | Major-general Tabassum Habib | |
Federal Ministry
|
Member | ||
Provincial Ministries Sindh, Punjab, Balochistan,and KP
|
Member | ||
Chief Secretaries
|
Member |
Implementation Committee
Implementation Committee is headed by Special Assistant to Prime Minister (SAPM) while, a Director General (DG SIFC) represents Pakistan Army. This tier has been organized into SIFC Secretariat and Sectoral Divisions for planning, coordination and execution of projects. The committee will meet on fortnightly basis for review of progress.
| Executive body | Designation | Incumbent |
|---|---|---|
| Special Assistant to PM on SIFC | Chairman SIFC Secretariat | Dr Jehanzaib Khan |
| Director-General SIFC (Major General Pakistan Army) | Member | Major-general Tabassum Habib |
| Secretary SIFC Secretariat (BPS-21 Additional Secretary Board of Investment) | Member | Jamil Ahmad Qureshi |
SIFC Secretariat works through following components:
Resident Element - includes representatives from concerned federal ministries (known as sector coordinators) and co-coordinators from Pakistan Army.
Non-Resident Element - includes Secretary Finance, Board of Investment and Economic Affair Division, Chairman FBR and Deputy Governor of State Bank of Pakistan besides, Provincial Focal Persons.
See also
References
- ↑ 1.0 1.1 "PM assigns special council $5b foreign investment task". Nation.com.pk. 22 June 2023. https://www.nation.com.pk/22-Jun-2023/pm-assigns-special-council-dollar-5b-foreign-investment-task. Retrieved 2023-09-02.
- ↑ "Briefing session for resident Diplomatic Missions held at Foreign Office, Islamabad". https://www.radio.gov.pk/01-09-2023/briefing-session-for-resident-diplomatic-missions-held-at-foreign-office-islamabad.
- ↑ "New 'investment facilitation' council gives Pakistan army formal seat at economic table". June 21, 2023. https://arab.news/m56rd.
- ↑ "The Special Investment Facilitation Council's Role in Pakistan's Economic Resurgence". https://thediplomat.com/2023/08/the-special-investment-facilitation-councils-role-in-pakistans-economic-resurgence/.
- ↑ Raza, Syed Irfan (August 8, 2023). "Special Investment Facilitation Council approves key projects to attract investment". https://www.dawn.com/news/1769009.
- ↑ "Pakistan's civil bureaucracy needs an overhaul" (in en). 2023-08-23. https://arab.news/bz55r.
- ↑ "Pakistan’s army is back in charge of politics". The Economist. ISSN 0013-0613. https://www.economist.com/asia/2023/08/10/pakistans-army-is-back-in-charge-of-politics.
- ↑ Editorial (2023-05-21). "The Guardian view on Pakistan’s army: go back to the barracks" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/commentisfree/2023/may/21/the-guardian-view-on-pakistans-army-go-back-to-the-barracks.
- ↑ Hussain, Abid. "Pakistan army chief admits military’s meddling in politics" (in en). https://www.aljazeera.com/news/2022/11/23/pakistans-army-chief-vows-to-keep-military-out-of-politics.
External links
- www
.sifc .gov .pk – official website
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