PM convenes SIFC Apex Committee meeting tomorrow

ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar has called a meeting of the Apex Committee of the Special Investment Facilitation Council (SIFC) tomorrow (Thursday).

The COAS and other committee members will participate in the meeting and will be briefed about the projects.

The meeting will be held on Thursday at PM House. The investment of the friendly country, security and current economic situation will come under discussion.

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Facilities for investors and difficulties faced by industries will also be discussed.

Meanwhile the International Monetary Fund (IMF) has advised Pakistan against creating a group of preferred investors or distortions in the country under the Special Investment Facilitation Council (SIFC) and to ensure transparency and accountability in its business deals.

Deputy Chairman Planning Commission Dr Jehanzeb Khan told economists and journalists that the visiting fund mission had raised questions as to the need for creation of another institution like SIFC and whether this would lead to the distressed sale of assets and advised against preferred investors.

They want that “transparency and accountability should be above board” in these matters.

He said the implementation of the IMF programme was in the interest of the country and there was now no difficulty with IMF advice for improved taxation on the rich because the people had already absorbed the full burden of the programme and the backlog and should now only lead towards ease from here onwards.

He said the problem in the past was because of delays or partial implementation of the needed adjustments. He said the IMF team was satisfied with the SIFC briefing and explanations.