Islamabad June 20 2023: During a high-level meeting, Government of Pakistan unveiled an elaborated ‘Economic Revival Plan’ in the wake of economic hardships being confronted by the country where investors would be given primacy and fast track approvals to tap potential of identified sectors.
The event was chaired by the Prime Minister of Pakistan and attended by the Chief of Army Staff, Chief Ministers, Federal and Provincial Ministers and high-level government officials.
The plan envisages capitalizing Pakistan’s untapped potential in key sectors of Defence Production, Agricultural / Livestock, Minerals / Mining, IT and Energy, through indigenous development as well as investments from friendly countries. To fast-track the development of projects, establishment of Special Investment Facilitation Council (SIFC) has been undertaken to act as a ‘Single Window’ interface for the potential investors as well as to adopt a unified approach.
The setup will shorten hithertofore cumbersome and lengthy business processes through a cooperative and collaborative ‘whole of the government approach’ with representation of all stakeholders. It is aimed at creating horizontal-vertical synergy between federation and provinces; facilitating timely decision making; avoiding duplication of effort; and ensuring swift project implementation.
The high-ranking participation from Federal and Provincial Governments, clearly manifests the national resolve to turn around the economy despite all odds. The COAS, speaking at the occasion, assured Pakistan Army’s all out support to complement Government’s efforts for Economic Revival Plan, considered fundamental to socio-economic prosperity of Pakistanis and reclaiming Pakistan’s rightful stature among the comity of nations.
Prime Minister recalled that his government inherited an economy which was on brink of collapse. With bold and difficult decisions, it is now being steered towards growth and development. There are, however, massive challenges ahead.
Export oriented FDIs hold the key to economic revival
The government has, therefore decided to adopt a holistic / whole-of-government approach which fosters partnerships within the federal and provincial governments for effective implementation and execution. The investors would be given primacy and fast track approvals, through a well-coordinated approach, he added.
Prime Minister observed that the expected investments would create jobs and livelihoods for the youth and women. The focus should be on empowering young and females to realise their full potential, he advised. Let us resolve to work together, leave no stone unturned and be singleminded in our focus and direction, PM extorted. We can transform the destiny of Pakistan and its people. It would, however, not happen without hard work and staying the course on the path of progress and development. Pakistan and Pakistanis deserve nothing less from those who have been bestowed the responsibility to administer the country by Almighty Allah and the people of Pakistan.