SIFC likely to transform Pakistan's IT sector: CEO Systems Limited

July 17, 2023 (MLN): The creation of the Special Investment Facilitation Council (SIFC) is a significant development for Foreign Direct Investment (FDI) in Pakistan, with the potential to bring transformative changes and exponential growth in the country’s IT export and economic well-being, said Asif Peer, CEO and MD of systems limited (PSX: SYS).

Watch Asif Peer, CEO & MD of Systems Limited, shed light on #SIFC's transformative role, significance for Pakistan's IT potential, and overall economic wellbeing.#NationalITSeminar #TechDestinationPakistan#MOITT #SyedAminUlHaque pic.twitter.com/05fKrNl0ja

— Ministry of IT & Telecom (@MoitOfficial) July 17, 2023

The SIFC will focus on defense production, agriculture, mines and minerals, IT, and energy sectors, aiming to achieve $100 billion in FDI within three years.

The initiative aims to streamline the process for FDI by routing it through a one-window operation under one roof.

The CEO appreciated the government’s efforts in recognizing the true potential of the Information Technology (IT) sector.

SYS looks forward to working with the government to strengthen the IT ecosystem and significantly increase IT exports to unleash the sector’s potential in Pakistan, he highlighted.

The initiative's ultimate goal is to achieve a $1 trillion GDP level by 2035.

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