PakistanPolitics

PM Kakar Calls for Policy Consistency as Caretaker Govt Ends Term

As the caretaker government prepares to hand over power to the elected representatives after the general election on February 10, Prime Minister Anwaar-ul-Haq Kakar has appealed to the incoming government to ensure continuity in the economic policies initiated by the Special Investment Facilitation Council (SIFC).

The SIFC, a high-level body comprising cabinet members, provincial chief ministers, and senior government officials, was formed by the caretaker government in June 2023 to facilitate and attract domestic and foreign investment in various sectors of the economy.

On Friday, PM Kakar chaired the 9th and final meeting of the Apex Committee of the SIFC in Islamabad, where he praised the council’s role in achieving major economic milestones and setting the pace for future endeavours.

The caretaker Prime Minister, Anwaar-ul-Haq Kakar, has urged the incoming government to maintain the economic momentum generated by the Special Investment Facilitation Council (SIFC). He emphasized the importance of policy consistency for the nation's benefit.

The SIFC, under the "Whole of the Government Approach", has been instrumental in fostering a sustainable ecosystem to nurture potential and attract investments. The council's initiatives span across various sectors, including human resource development, infrastructure enhancement, and domestic dispute resolution mechanisms.

Despite the challenges posed by the COVID-19 pandemic, the war in Ukraine, and the global energy crisis, the SIFC has made commendable progress in improving the country's macro and micro-economic conditions.

The council has also successfully increased economic engagements with friendly nations, securing several investment commitments. These commitments are crucial for the country's economic growth and need to be efficiently transformed into economic benefits.

In addition, the SIFC has approved the Strategic Canals Vision 2030, a significant project aimed at developing the country's irrigation and water resources. It has also endorsed reforms for the Federal Board of Revenue (FBR), which are designed to simplify the tax system and enhance revenue collection. These initiatives reflect the council's commitment to the nation's economic stability and growth.

The meeting was also attended by Chief of Army Staff (COAS) General Syed Asim Munir, who assured the firm resolve of the Army to support the government’s initiatives for the economic stability of the country and the socio-economic well-being of its people.

He said that the Army was committed to providing a secure and conducive environment for the economic development of the country and the welfare of its citizens.

He also congratulated the caretaker government and the SIFC for their achievements and expressed hope that the next government would continue the economic reforms in the best interest of the nation.

The meeting was briefed by the ministries on the progress of the projects and policy initiatives undertaken by the SIFC and the plans for the subsequent endeavours to attract more investment.

The meeting expressed profound satisfaction with the overall progress and commended the contribution of the SIFC, the ministries, the departments, and the affiliated stakeholders in accomplishing the economic goals.

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