Special Investment Facilitation Council

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]

Special Investment Facilitation Council
Formation17th, June, 2023
TypeGovernmental organization
PurposeEconomic revival of Pakistan, attract Foreign Direct Investment
Headquarters2nd Floor, Prime Minister's Secretariat, Islamabad
Location
Membership
All Provincial Chief Ministers and the Army Chief
Founder
Asim Munir
Parent organization
Prime Minister's Secretariat
Websitewww.sifc.gov.pk

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]

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.

Apex Committee SIFC
Executive body Designation Incumbent
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 Muhammad Saeed
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 Vacant
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 Anwar Ali Hyder
Ministry of Defence Member Anwar Ali Hyder
Chief of Army Staff Member by special invitation Syed Asim Munir Ahmed Shah
Provincial executive body Designation Incumbent
Chief Minister of Punjab Member Mohsin Naqvi
Chief Minister of Sindh Member Maqbool Baqar
Chief Minister of Balochistan Member Ali Mardan Domki
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 Committee SIFC
Executive body Designation Incumbent
Ministry of Planning Chairman Sami Saeed
Special Assistant to Prime Minister (SAPM) on SIFC Chairman SIFC Secretariat Dr Jehanzaib Khan
Secretary SIFC Secretariat (Additional Secretary BOI) Secretary Executive Committee N/A
National Coordinator SIFC (CGS Pak Army) Member Muhammad Saeed
DG SIFC Secretariat (Major general Pakistan Army) Member
Federal Ministry Member
Provincial Ministries Sindh, Punjab, Balochistan,and KP
  • Ministry of Agriculture
  • Ministry of Mines and Minerals
  • Ministry of IT
  • Ministry of Energy
  • Ministry of Irrigation
  • Ministry of Finance
  • Ministry of Planning and Development
  • Board of Revenues of 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 organised into SIFC Secretariat and Sectoral Divisions for planning, coordination and execution of projects. The committee will meet on fortnightly basis for review of progress.

SIFC Secretariat/Implementation Committee
Executive body Designation Incumbent
Special Assistant to PM on SIFC Chairman SIFC Secretariat Dr Jehanzaib Khan
Director-General SIFC (Major General Pakistan Army) Member N.A
Secretary SIFC Secretariat (BPS-21 Additional Secretary Board of Investment) Member N/A

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. "PM assigns special council $5b foreign investment task". Nation.com.pk. 22 June 2023. Retrieved 2023-09-02.
  2. "Briefing session for resident Diplomatic Missions held at Foreign Office, Islamabad". www.radio.gov.pk.
  3. "New 'investment facilitation' council gives Pakistan army formal seat at economic table". Arab News PK. June 21, 2023.
  4. "The Special Investment Facilitation Council's Role in Pakistan's Economic Resurgence". thediplomat.com.
  5. Raza, Syed Irfan (August 8, 2023). "Special Investment Facilitation Council approves key projects to attract investment". DAWN.COM.
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