Pakistan's 'Economic Revival Plan' targets key sectors, foreign investments

June 20, 2023 (MLN): Government of Pakistan has unveiled an 'Economic Revival Plan' that aims to capitalize Pakistan’s untapped potential in key sectors is in the 'Economic Revival Plan', during the Special Investment Facilitation Council (SIFC) meeting held today, a press issued showed.

The key sectors include defence production, agricultural/livestock, minerals/mining, IT and energy, through indigenous development as well as investments from friendly countries

The event was chaired by the Prime Minister of Pakistan and attended by the Chief of Army Staff, Chief Ministers, Federal and Provincial Ministers and high-level government officials.

To fast-track the development of projects, establishment of SIFC has been undertaken to act as a ‘Single Window’ interface for the potential investors as well as to adopt a unified approach.

The setup will shorten hithertofore cumbersome and lengthy business processes through a cooperative and collaborative ‘whole of the government approach’ with representation of all stakeholders.

It is aimed at creating horizontal-vertical synergy between federation and provinces; facilitating timely decision making; avoiding duplication of effort; and ensuring swift project implementation.

The high-ranking participation from Federal and Provincial Governments, clearly manifests the national resolve to turn around the economy despite all odds.

The COAS, speaking at the occasion, assured Pakistan Army’s all out support to complement Government’s efforts for Economic Revival Plan, considered fundamental to socio-economic prosperity of Pakistanis and reclaiming Pakistan’s rightful stature among the comity of nations.

The Prime Minister stated that export oriented FDIs hold the key to economic revival.

The government has, therefore decided to adopt a holistic / whole-of-government approach which fosters partnerships within the federal and provincial governments for effective implementation and execution.

The investors would be given primacy and fast track approvals, through a well-coordinated approach, he added.

The Prime Minister observed that the expected investments would create jobs and livelihoods for the youth and women.

The focus should be on empowering young and females to realise their full potential, he advised.

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