Islamabad: The Special Investment Facilitation Council (SIFC) has completed its second year, demonstrating significant progress across key sectors including industry, tourism, and privatization, playing a pivotal role in boosting investor confidence and streamlining development initiatives.
The SIFC has successfully partnered with local companies to commence electric vehicle (EV) production in Pakistan under the “Build Your Dream” project, signifying a major step towards sustainable transport and industrial advancement.
A remarkable achievement has been the reduction in approval time for industrial projects by 35% under SIFC’s facilitation, directly contributing to restoring and enhancing investor confidence.
Tourism Sector Transformation: Pakistani startup “Bookme” has expanded its operations to Saudi Arabia, a significant milestone that marks the international journey of Pakistan’s tourism technology, greatly enabled by SIFC’s efforts to foster global partnerships.
In Gilgit-Baltistan, a key initiative under Green Tourism has seen the restoration of 44 guesthouses, creating an estimated 4,000 job opportunities for local communities.
The SIFC has facilitated the emergence of new models of tourism development through private partnerships in Sindh, focusing on renowned locations such as Keenjhar Lake and Gorakh Hills, aiming to upgrade facilities and attract more visitors.
A major advancement in promoting tourism and investment is the extension of visa-on-arrival facility to 126 countries, including Gulf Cooperation Council (GCC) nations, significantly easing travel for potential investors and tourists alike.
Privatization & Infrastructure Modernization: The privatization of Pakistan International Airlines (PIA) has attracted considerable interest from seven international companies, signaling potential for improved services and increased revenue for the national carrier.
Approval has been granted for a Government-to-Government (G2G) model for the privatization of power distribution companies (DISCOs), aiming to enhance efficiency and service delivery in the energy sector.
Preparations are well underway to outsource Islamabad, Karachi, and Lahore airports, a strategic move aimed at upgrading services to international standards and attracting foreign expertise.
The SIFC, through its focus on transparency, timely decision-making, and effective investment facilitation, has established a new direction for development in Pakistan, fostering an environment conducive to economic growth and attracting both local and foreign investment.
