KARACHI:
In a resounding endorsement, business leaders and market analysts are hailing the recently established Special Investment Facilitation Council (SIFC) as a crucial necessity during these challenging times.
“The SIFC is a necessity of the time as it includes all local stakeholders, such as the civil-military forum, trade bodies, businesspeople, bureaucrats, politicians, and others. It is a bouquet of all stakeholders, ensuring that issues faced by industrialists or investors are promptly addressed. Our Foreign Direct Investment (FDI) was nearly non-existent due to multinational companies struggling to repatriate profits. However, with the establishment of the SIFC, foreign investors have been assured of their profits, creating a conducive environment for potential $60 billion investments within the stipulated five-year period. The SIFC is not only resolving foreign investors’ issues but has also begun addressing local concerns. For instance, the fertiliser industry faced a severe shortage, leading to the black-market sale of Urea, negatively impacting the agriculture sector.
Thanks to the SIFC, the Sui Southern Gas Company (SSGC) extended privileges to the fertiliser industry, ensuring it operates efficiently, and soon fertiliser will be available at economical rates. The SIFC is fully capable of resolving all issues, fostering substantial growth for local businesses,” remarked Hyderabad Chamber of Commerce and Industry President Adeel Siddiqui in a conversation...
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