SIFC fast-tracks privatization of SOEs to reduce losses

October 05, 2023 (MLN): The Special Investment Facilitation Council (SIFC) on Wednesday resolved with consensus to fast-track the privatization process of the State state-owned enterprises (SOEs) with the aim of reducing recurring losses to the national exchequer, as per a press release issued on the same day.

The SIFC convened the 6th meeting of its Apex Committee today to review various initiatives being spearheaded through the SIFC forum.

The ministries apprised the forum about the practical steps undertaken during the last month to improve the business and investment environment in the Country.

The Committee also reviewed major macroeconomic issues affecting the investment climate including inordinate delays in restructuring/privatization of cash-bleeding SOEs.

Moreover, it expressed overall satisfaction regarding the ongoing negotiations with foreign and domestic investors for the timely realization of various investment prospects.

The Prime Minister appreciated the good work put forth by various ministries and departments and directed to continue with the ‘Whole of the Government' approach to overcome the economic challenges being faced by Pakistan.

During the meeting, the Chief of Army Staff assured the unflinching resolve of the Pakistan Army to support the government's endeavors for a sustainable path toward economic recovery.

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