Additional Secretary Special Investment Facilitation Council (SIFC) informed the Senate Standing Committee on Cabinet Secretariat on Thursday that around 38 projects worth USD 40 billion had been developed across various sectors, including mining, industry, railways, roads, maritime affairs, power, information technology, pharmaceuticals, health, tourism and food security.
Senator Rana Mehmood ul Hassan chaired the committee meeting. The additional secretary, along with his team, briefed the committee on the council's performance, strategic objectives, and key economic initiatives undertaken over the past three years to boost national growth.
The committee was informed that the government has prioritized structural reforms to stabilize the national economy. The SIFC has played a pivotal role in bridging federal and provincial coordination gaps, ensuring a business-friendly environment for both domestic and international investors.
Highlighting specific sectors, the officials noted that massive infrastructure and connectivity projects are currently underway. These initiatives are designed to improve supply chains, reduce transportation costs, and enhance export competitiveness in the global market.
The committee further learned that the Brownfield Refinery Policy had been successfully approved, with five major refineries signing implementation agreements involving proposed investments of approximately USD 6 billion. This is expected to significantly reduce Pakistan's reliance on imported petroleum products.
In the energy sector, renewable energy projects and transmission line upgrades are being fast-tracked. The SIFC representatives stated that these measures aim to provide affordable and uninterrupted electricity to industrial zones across the country.
Furthermore, discussions with international partners have yielded positive outcomes. The SIFC officials highlighted ongoing engagements with Chinese companies under the China-Pakistan Economic Corridor (CPEC) framework, as well as joint ventures with investors from Qatar, Saudi Arabia, and Kuwait.
Special focus is also being given to the agricultural sector through the Green Pakistan Initiative. Modern farming techniques, corporate farming models, and advanced irrigation systems are being introduced to ensure long-term food security and boost agricultural exports.
To facilitate ease of doing business, the council has introduced streamlined regulatory procedures, improved visa facilitation for foreign investors, and operationalized single-window facilities at multiple federal and provincial departments. Concluding the session, Senator Rana Mehmood ul Hassan appreciated the efforts of the SIFC and stressed the need for strict timeline implementation on all ongoing projects to ensure maximum economic dividends for the public.