The Special Apex Committee of the Special Investment Facilitation Council (SIFC) has pledged to uphold existing policies and make challenging decisions in the nation’s best interest, prioritizing economic stability.
Chaired by Prime Minister Shehbaz Sharif, the meeting of the Special Apex Committee took place on Thursday, with notable attendees including former caretaker Prime Minister Anwaar ul Haq Kakar, the Chief of the Army Staff, members of both outgoing and incoming federal cabinets, provincial chief ministers, and senior government officials.
The session was dedicated to briefing the cabinet in the presence of the caretaker cabinet, symbolizing a smooth transition in governance, a significant milestone in the country’s history.
The PM Office reported that the committee received a comprehensive overview of the SIFC initiative and its substantial contributions to investment, privatization, and overall macroeconomic stability.
Acknowledging Prime Minister Shehbaz Sharif’s leadership in conceiving and launching SIFC in June 2023, the committee praised its progression under the caretaker government.
Emphasizing the importance of maintaining a collaborative approach through SIFC to address the diverse challenges confronting the nation, the committee underscored the necessity of unity.
Former caretaker Prime Minister Anwaar ul Haq Kakar extended congratulations to Prime Minister Shehbaz Sharif, his cabinet, and chief ministers on assuming their roles, expressing optimism for effectively addressing economic challenges and propelling Pakistan towards becoming a leading global economy.
Reaffirming the Pakistan Armed Forces’ unwavering support for government economic initiatives, the Chief of Army Staff pledged to provide a secure environment conducive to realizing the country’s economic potential.
Prime Minister Shehbaz Sharif stressed the crucial role of SIFC in navigating challenging times, urging a steadfast commitment to serving the nation.
Encouraging the federal cabinet to set aside political differences and work cohesively to sustain economic stability, he expressed gratitude to the caretaker government for advancing the national economic agenda.
Furthermore, Prime Minister Shehbaz Sharif highlighted the imperative for deep-seated structural reforms alongside a new International Monetary Fund program to ensure sustained economic stability. He emphasized that without such reforms, economic prosperity would remain elusive.
Shehbaz Sharif elaborated on the challenges hindering investment, including bureaucratic hurdles and inefficiencies, underscoring the necessity of SIFC’s establishment in 2023. He noted the pivotal role played by the Chief of Army Staff and highlighted the series of productive meetings held under SIFC’s auspices.
The Prime Minister outlined the pressing issues facing the nation, including revenue shortfalls and losses incurred by state-owned enterprises, advocating for tough decisions to address these longstanding challenges.
In conclusion, Prime Minister Shehbaz Sharif emphasized the importance of equitable burden-sharing in the upcoming budget and the necessity of a comprehensive, long-term IMF program to pave the way for sustained economic growth.
