SIFC Strategic Vision for Consultancy, Feasibility, and Regulatory Transformation

SIFC Strategic Vision-The Special Investment Facilitation Council’s (SIFC) Implementation Committee (IC) has opted to engage the services of a globally acclaimed consultancy firm specializing in project development, finance, and legal matters to assess the viability of bankable projects.

Insiders from the Board of Investment (BoI) have officially confirmed this decision, marking a strategic move to enhance investment prospects.

The responsibility of selecting the consultancy firm has been assigned to the Secretary of the Ministry of Planning, Development, and Special Initiatives, in collaboration with the Chief Executive Officer.

This determination was reached during a meeting held on December 7, 2023, by the SIFC Committee, chaired by the Secretary of SIFC and attended by both civilian and military officials.

The Director-General of SIFC highlighted three notable achievements under SIFC’s purview, namely the signing of seven MoUs during the caretaker Prime Minister’s official visit to the UAE, a framework agreement with Kuwait for more profound economic engagement, and the approval to discard the Model BIT template, allowing negotiations on a Free Trade Agreement with GCC countries.

The meeting underscored the importance of feasible and bankable investment projects in accordance with directives from Pakistan’s top leadership. Sectoral Working Groups (SWGs) are expected to play a pivotal role, convening weekly to facilitate consultations between ministries and departments and propose agenda items for subsequent meetings.

To streamline the process, the meeting decided to present 4-5 preliminary concept notes, investment proposals, or working papers for potential investment projects. These proposals will be further deliberated upon during the eighth Executive Committee (EC) meeting with subsequent backing from P3A.

The gathering also delved into various initiatives, seeking a compilation of milestones, actionable items, dependencies, and timelines. These initiatives encompass the integration of regulators with the e-Services Portal of SECP, Sectoral Mapping and Regulatory Transformation (SMART), development of E-Registry, self-assessment by regulators, Regulatory Impact Assessment (PIA) Guidelines, and the Pakistan Business Portal.