SIFC orders strategy to address oil and gas issues in country

Apex body appreciates progress on privatization of state-owned enterprises and directs to keep process at fast pace.

By Staff Writer Last updated Nov 17, 2023

ISLAMABAD: At the 7th meeting of Apex Committee of the SIFC chaired by Caretaker Prime Minister Anwaarul Haq Kakar in Islamabad, officials concerned were directed to make a comprehensive strategy to address oil and gas issues in the country.

The meeting was held to review various initiatives being led through the SIFC forum. Speaking on the occasion, Chief of Army Staff General Syed Asim Munir reassured undaunted resolve of Pakistan Army in various domains for sustainable recovery of the economy.

Ministries presented plans to further improve the ecosystem for realizing the envisaged investments. The committee appreciated the enhancing level of engagements with friendly countries and outreach strategy to proactively engage investor’s community.

The meeting reviewed progress on various measures undertaken to improve investment climate and approved policy level interventions to further improve investors’ confidence. The committee appreciated the progress on privatization of State-Owned-Enterprises and directed to keep the process at fast pace.

The committee showed satisfaction on overall progress under the umbrella of SIFC, appreciated the enhancing level of engagements with friendly countries, both public and private entities, and the outreach strategy to proactively engage investors’ community, which was translating in enhanced traction and approvals at domestic and global stages.

It reviewed progress on various measures undertaken to improve investment climate and approved policy level interventions to further improve investors’ confidence including repatriation of profits, strengthening domestic dispute resolution mechanism, infrastructural and human resource development, and speedy operationalization of EXIM Bank.

The committee also directed to make a comprehensive strategy to address oil and gas issues in a sustainable manner by investing in relevant industries. The apex body reviewed and appreciated the progress on privatization of State-Owned-Enterprises and directed to keep the process at fast pace.