ISLAMABAD: Direc­t­ing authorities concerned to meet targets of Special Investment Financial Cou­ncil (SIFC) regarding foreign investment and privatisation, caretaker Prime Minister Anwaarul Haq Kakar on Wednesday vow­ed to continue the ongoing operation against smugglers and hoarders.

Presiding over 8th meeting of the SIFC’s apex committee, which was co-chaired by Chief of Army Staff (COAS) Gen Syed Asim Munir, the prime minister reviewed progress of various government mi­­nistries and departments regarding targets and goals set by the council.

According to the PM Of­­f­ice (PMO), the COAS reite­r­ated army’s resolve to support the government for revival of economy.

“The committee expressed firm commitment to continue action against those inv­ol­v­­ed in smuggling and hoarding,” an official statement issued by the PMO said.

Caretaker PM, COAS jointly chair eighth meeting of apex committee

The caretaker government in collaboration and support of the army has launched a massive operation against smugglers and hoarders after which unbridled US dollar rate against Pakistani rupee was controlled and prices of some essential items had dropped to some extent.

In the meeting, different federal ministries gave briefings on various projects and investment.

The committee expres­sed satisfaction on overall progress of different ministries on important issues.

The committee lauded the efforts of relevant mi­­nistries and departm­ent for giving final shape to dif­ferent Memo­rand­ums of Understanding (MoUs) made for foreign investment with the governments of Saudi Arabia and Qatar.

The meeting also lauded singing of MoUs and framework with the UAE and Kuwait, besides enhancing economic relations with foreign countries. “The forum directed for swift materialisation of all MoUs and frameworks,” the press release said.

The committee also reviewed the progress of authorities concerned regarding privatisation of state-owned entities and directed them to keep the pace of their work.

The meeting also reviewed measures taken to attract foreign investment and gave approval for strengthening domestic dispute resolution system. The participants decided to expedite the pace of infrastructure development to provide better facilities to the investors in far-flung areas.

The committee approved policy-level interventions regarding investment and human resource development to meet grow-ing demands in various sectors.

Published in Dawn, January 4th, 2024