The Special Apex Committee of the Special Investment Facilitation Council (SIFC) reiterated the importance of continuing a consensual approach to address the myriad challenges faced by Pakistan. Chaired by Prime Minister Shahbaz Sharif, the committee pledged to prioritize correct economic priorities and take tough decisions for the country’s larger interest.
During the meeting held on Thursday, attended by key stakeholders including former caretaker Prime Minister Anwaar ul Haq Kakar, Chief of the Army Staff, members of the outgoing and incoming federal cabinet, and provincial chief ministers, the focus remained on briefing the cabinet in the presence of the caretaker cabinet, marking a historic moment of seamless transition.
The committee received a comprehensive briefing on the SIFC initiative and its significant contributions towards investments, privatization, and overall macro-economic stabilization. Prime Minister Shehbaz Sharif’s leadership in launching the SIFC in June 2023 was appreciated, highlighting its evolution under the caretaker government.
Emphasizing the need for a consensual approach, the committee underscored the importance of navigating the country’s challenges collectively under the SIFC framework.
Meanwhile, Prime Minister Shahbaz Sharif addressed the special session of the Apex Committee, stressing the necessity of deep-rooted structural reforms alongside a new IMF program to ensure sustained economic stability. He highlighted the importance of digitizing the Federal Board of Revenue (FBR) to bridge the revenue gap and curb corruption.
Additionally, Prime Minister Shahbaz Sharif emphasized the need for tough decisions to address long-standing issues in the energy sector, combat inflation, and streamline subsidies. He outlined the government’s commitment to preparing a budget that distributes the burden fairly while considering the requirements of a new and long-term IMF program.
In conclusion, the SIFC Apex Committee’s meeting underscores the government’s resolve to tackle economic challenges through collaborative efforts and strategic reforms, with a focus on sustainable development and prosperity for Pakistan.
