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SIFC Apex committee vows to take tough decisions in country’s larger interest
March 21, 2024

The apex committee of Special Investment Facilitation Council has vowed to ensure continuation of policies and take tough decisions in the larger interest of the country by setting correct economic priorities.                                     

The committee met in Islamabad today with Prime Minister Muhammad Shehbaz Sharif in the chair.          

The meeting was briefed about the SIFC initiative and major contributions made towards investments, privatization and overall micro-economic stabilization of the country.      

The Committee underscored the need for continuing a consensual approach under SIFC to overcome the challenges being faced by the country.

It admired the leadership of Prime Minister for envisioning and launching the SIFC last year, which evolved progressively under the caretaker setup. 

Addressing the forum, Prime Minister Mian Muhammad Shehbaz Sharif said deep rooted structural reforms are inevitable to ensure macroeconomic stability in the country.

He underscored the need to introduce structural reforms, including digitalization in the Federal Board of Revenue, to bridge the gap between receipts and expenditure. He said 1350 billion rupees can be saved by addressing such challenges. 

Shehbaz Sharif said the federal government cannot handle these challenges without the cooperation of provinces. He expressed the belief that the federal and the provincial governments have the capacity to deal with these difficulties and challenges with unity and resolve.

He urged the Federal Cabinet to keep political differences aside, and work as a cohesive team to keep the momentum of economic stability. 

The Prime Minister further said the burden of tough decisions should be on those segments of society which have strength to bear it. He said the poor man is already suffering from poverty and the government will have to protect him. 

He commended the outgoing caretaker government for continuing larger national economic agenda in a befitting manner.      

On the occasion, Chief of Army Staff General Syed Asim Munir reassured the fullest support of Pakistan Armed Forces to backstop the economic initiatives of the government and ensure the provision of safe, secure and conducive environment to nurture country's true economic potential.  

 The meeting was attended by former Caretaker Prime Minister Anwaar Ul Haq Kakar, Chief of the Army Staff, members of outgoing and incoming Federal Cabinet and Provincial Chief Ministers and senior government officials.