While applauding Special Investment Facilitation Council role in facilitating foreign direct investment and other initiatives on Saturday caretaker Federal Minister for Information Technology and Telecommunication, Dr Saif Umar termed the SIFC as an effective forum for ensuring economic stability and making timely decisions in the public interest.
It is pertinent to mention that during its 7th Executive committee meeting on December 14, the Council has formally launched business and investment friendly SIFC Visa facility in order to create enabling environment for foreign investors. In a video statement on Saturday, Dr Saif Umar said, “SIFC is instrumental in paving the way for digital transformation and attracting foreign direct investment in Pakistan.” He said, “Crucial decisions, beneficial to the masses, are being made through the SIFC forum in Information and Communication Technology (ICT).”
The minister expressed confidence that these initiatives would contribute to the rapid development and stability of the country’s economy. Dr Umar Saif further explained, “All stakeholders including the military and political leadership are present in the SIFC forum, which makes decision-making very easy.”
“We are confident that with the presence of the Special Investment Facilitation Council, the upcoming government will also be able to make timely decisions for the country’s development and public interests because we must not compromise on our economic stability and public interests, we need to avoid departmental obstacles, instead of unnecessary delay tactics, quick and effective decisions have to be taken in the interest of the country and the nation, for this purpose SIFC is the most effective forum” he stated.
The minister informed since 2014, the case of hundreds of MHz of spectrum with Sun TV was pending. The matter, he said was raised at the SIFC forum, and all the required legal requirements were met, after which the High Court of Sindh heard the case daily and the verdict of the case was pronounced on Thursday.
Dr Saif said, “It is good news for the people that now this spectrum will be in government custody, which is worth multi-million dollars as per the current market rate of the spectrum.” He added saying from the establishment of the Advisory Committee for spectrum auction to the necessary steps to lay the network of optical fiber cables across the country. He said, “The effective implementation of the Right of Way Policy, the Special Investment Council has removed all departmental hurdles and all decisions in the interest of the country and the nation have been approved without delay.”
“The SIFC Forum has a key role to play in the preparation of the country’s first space policy and its approval from the relevant forums” he added. Similarly, Dr Saif said, “Negotiations with Starlink have entered the final stages, and satellite internet will also be available to the public very soon while the existing network will also be improved.”
PDM government has approved establishment of the SIFC on 20 June 2023, a facility to act as a ‘single window’ to facilitate investors, establish cooperation among all government departments, and fast-track project development. The SIFC is an inclusive organization with representation from federal and provincial stakeholders in all tiers, besides Army’s representation for facilitation. The Council has three committees including Apex, Executive and Implementation Committee with objectives to spearheading essential structural reforms within the economy. In its initial phases, the forum concentrates on harnessing the potential of pivotal sectors like information technology, agriculture, energy, mineral resources, mining, and defense production. Besides, primary objective of the SIFC continues to be the attraction of investments from friendly nations.
