SIFC focuses on 5 sectors for investment – Business


KARACHI: In continuation of its efforts to enhance the nation’s enterprise local weather, the Special Investment Facilitation Council (SIFC) has requested Karachi’s enterprise neighborhood to take advantage of enormous investment potential in agriculture, livestock, info expertise, mining and power sectors.

At a gathering held at Corp Commander Office V on Tuesday, Special Assistant to Caretaker Prime Minister Dr Jehanzaib Khan and the SIFC’s director-common additionally shared with businessmen and financial consultants of Karachi and Sindh particulars of the potential tasks.

This was a comply with-up assembly after two separate conferences the military chief held with businessmen in Karachi and Lahore on Saturday and Sunday.

The goal of those conferences was to spotlight all these features that may play a optimistic position in enhancing the nation’s general investment local weather.

Karachi merchants additionally recommend methods for enhancing enterprise local weather

The Karachi Chamber of Commerce and Industry (KCCI) after the assembly in a press assertion mentioned traders have been additionally offered a possibility to share their views and recommendations for enhancing the general investment local weather.

The assembly was additionally participated by senior officers of the Pakistan Army.

The members have been assured that the SIFC would offer all required amenities to businessmen wanting ahead to creating investments.

In a separate assertion, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh proposed that SIFC should embrace the representatives of the apex physique in all of its process forces and sectoral committees on the 5 focus areas below SIFC i.e. agriculture, mines and minerals, info expertise, power and defence manufacturing.

The FPCCI can be greater than keen to take part and help the federal government, he added.

He mentioned the FPCCI, being the nation’s apex physique representing all 250 chambers, associations and commerce our bodies, has its networks and consultants in all of the aforementioned focus areas of SIFC. The consultative course of holds the important thing to success for SIFC, financial stabilisation and eliminating the shackles of the IMF, he added.

The FPCCI chief mentioned the one logical, efficient, swift and outcome-oriented resolution to the menace of smuggling lies in eliminating smuggling networks on the nation’s borders as these are the entry and exit factors. “There is not any use in screening or monitoring the markets with out having strict management on the borders,” he remarked.

He welcomed the military chief’s initiatives to draw mega investments by way of SIFC, a crackdown on foreign exchange speculative buying and selling, stringent measures to get rid of smuggling of petroleum merchandise and sugar, broadening the tax web and shielding traders from any change in authorities to enhance investor’s confidence by way of continuity in financial insurance policies.

He mentioned it’s potential to deliver $25 billion investment within the close to time period of lower than one 12 months and $100bn within the quick to medium- time period of 1 to 3 years from varied international locations.

Mr Irfan additionally expressed his optimism on the upcoming go to of Saudi Crown Prince and Prime Minister Mohammed Bin Salman for its sport-altering socioeconomic significance.

Published in Dawn, September sixth, 2023

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