ISLAMABAD: The federal government, in the wake of economic challenges confronting the country, unveiled an elaborated ‘economic revival plan’ on Tuesday with a view to capitalize on the country’s untapped potential in important sectors, and expedite the development projects and facilitating investment.
The plan was presented during a high-level meeting presided over by Prime Minister Shehbaz Sharif and attended by the Chief of Army Staff Gen Asim Munir, chief ministers of all provinces, federal and provincial ministers, and other top government officials, a PM Office news release said.
The plan envisages capitalizing on Pakistan’s untapped potential in important sectors of defence production, mining, agriculture, livestock, minerals, information technology and energy, through indigenous development and investments from friendly nations.
To expedite the development of projects, the establishment of the Special Investment Facilitation Council has been undertaken to act as a ‘Single Window’ interface for the desiring investors and adopt a unified approach.
The setup will shorten the lengthy business processes through a cooperative and collaborative approach with the representation of all stakeholders. It would create a horizontal-vertical synergy between the center and provinces; helping in timely decision making; ensuring swift project implementation, and avoiding duplication of effort.
Army Chief fully supports Economic Revival Plan
The army chief assured all-out support from the Pakistan army to complement the government’s efforts for the plan, considered very important to socio-economic prosperity of the people and reclaiming Pakistan’s rightful stature in the world.
Prime Minister Shehbaz said that the incumbent government inherited a nearly collapsing economy. He said that with bold and tough decisions, it was now moving towards growth and development; however, there were great challenges ahead.
He said export-oriented foreign direct investments (FDIs) were key to economic revival. Therefore, his government adopted a holistic approach that fostered partnerships between the federal and provincial governments for effective implementation and execution.
He added that the investors would be given priority and expedited approvals, through a well-coordinated approach.
