SIFC Pakistan’s highly rewarding fast-track window for Investors of the World and the key to Pakistan’s revolutionary economic revival

How SIFC was created?

The Chief of Army Staff of Islamic Republic of Pakistan Mr. General Asim Munir assumed office on the 29th of November 2022 at the time when decades long mismanagement of economy, favoritism and corruption by the politicians and civil bureaucracy had eaten up the economy of Pakistan (one of world’s top ten resourceful economies) like termites eat up the wood.

At this stage to revive Pakistan’s economy and lead its nation towards a prosperous future the Chief of Army Staff General Asim Munir realized his brainchild in the shape of “Special Investment Facilitation Council” (SIFC) with a practical hassle free “One Window” approach to attract foreign investment in the country and improve country’s economic growth utilizing the already available mismanaged and the untapped resources within the country by removing bureaucratic hurdles, to eliminate complex business processes, inordinate delays and avoid political influences.

What SIFC can do?

SIFC has initially started facilitation of potential investors in five sectors which include: 1. Agriculture and Livestock, 2. IT & Telecom, 3. Mines & Minerals, 4. Energy (Power & Petroleum), 5. Industry, Tourism and Privatization. For further detailed information the SIFC website i.e.  https://www.sifc.gov.pk can be reviewed.

What can be done to improve SIFC operations and attain its targets on fast pace?

The writer since being an award winning Entrepreneur belonging from an agricultural background family having vast experience in Information Technology, Telecommunications, Energy, Trade, Engineering, Procurement and Construction and having been partner to major Fortune 500 companies of the world and top corporate state owned and private organizations of China advise following measures to be considered for making SIFC a truly successful self-sustained model for the local and international investors planning to do business with Pakistan and also to improve output and efficiency of existing businesses in Pakistan and the prosperity of economy at large:

  1. Export-Import Bank of Pakistan (EXIM Bank) to be acquired by SIFC and made the sole banking channel for all the imports and exports related transactions and banking facilitations for more transparency, authority, ease of transactions , trade credit insurances, guarantees, loans, tendering bonds and other requirements of investors and businesses.

 

  1. SIFC Consultation & Advisory Board: to give guidance to potential investors for identifying potential markets, advising setup plans, marketing strategies, requirements of financial limits/guarantees to operate locally and internationally, utilizing of latest technologies and relevant Human Resource trainings and all other requirements as per the business operations and promotions.

 

  1. SIFC Think Tank:

An SIFC Think Tank be created having the country’s top achievers, thinkers in it for continuously evaluating the current policies and devising new policies and introduction of products, fields and technologies under the umbrella of SIFC – and leading the Research and Development center of SIFC.

 

  1. SIFC Audit Directorate for Mines & Minerals, Energy (Power & Petroleum), Industry, Agricultural land leases:

During last three decades thousands of agricultural land leases, fishing permits, mineral and mining leases, Industrial Permits, petroleum and gas exploration permits, energy project licenses have been given on political and bureaucratic influence of which majority are inoperative due to lack of know-how or interest by these leases/permits owners while others are subcontracted to poorly operating sub-contractors thus giving costly inefficient output. SIFC may obtain details of all such leases, licenses/NOC(s) and (or) Permits , bring them all under its umbrella and on fast pace evaluate the illegalities in all such awards and serve notices to the owners of such leases / permits to rectify those illegalities, become operational, invest in the sectors as per the business requirements and submit quarterly progress report failing which after one year notices be served to them and their leases, licenses/NOC(s) and (or) Permits be cancelled and re-awarded afresh to genuine suitable candidates, organizations.

 

  1. Absorption of Information Technology & Telecommunications Ministry and PSEB under SIFC as its IT & Technology Directorate:

In presence of Information Technology and Telecommunications Ministry, Pakistan Software Export Board the roles assumed for investment and promotion of business growth of the IT& Telecom  Sector will also be in conflict mode as similar roles with massive bureaucracy in parrallel will be run under the Ministry and its subordinate divisions and similarly PASHA an organization in view of many IT companies is only an organization created to hinder the growth of IT Sector, is a lobbying only organization which has been charging hefty license/registration and yearly renewal fee from all IT related organizations with no credible input for growth in the IT sector and thus the IT & Telecom Ministry along its all functions and divisions if absorbed by SIFC as its Directorate with all facilities available under one window will enabling massive local and export oriented international IT development works and services.

Similarly abolishment of Industries, Minerals, Mining and Livestock ministries and their manpower pools both from federal government and from provincial governments and absorption of these ministries and their roles as Directorates of SIFC will save billions of rupees wastage of resources of the country, help in elimination of corruption, elimination of duplication /conflict of procedures and authorities and also enable SIFC to truly act as a Single Window Operation Authority in all these fields.

 

  1. Recalling of all trade commissioners from all embassies of Pakistan abroad being inducted on basis of favoritism, political affiliations and induction of new energetic motivated well trained hard worker trade commissioners with a quarterly check on their progress.

 

  1. Provision of Pre-Approved Interest free Islamic Loans for Business under SIFC

Agricultural Land provision to small scale local farmers (starting from 50 acres of land units) with exemption of Security fee and provision of basic seed, fertilizers, solar energy, land levelling machinery hours, fencing and other requirements by SIFC with initial land tenures starting from 3 years.

 

  1. One Window produce Purchase Facility: SIFC may through EXIM bank purchase all products and services being produced by the businesses under the umbrella of SIFC thus guaranteeing the purchase of the products and services (of course after quality control assessment) and may further market and sell the products and services as per local and international demands.

 

  1. Induction of practical result oriented proven achievers in fields of businesses in SIFC than giving priority to retired bureaucrats, army officials and highly educated only degree holders.

 

  1. Afghan Immigrant Verified & Security Cleared Workforce:

The immigrant from Afghanistan have been the major workforce of Pakistan’s agricultural and construction industry as they being very skilled, hardworking and ready to work at lesser wages than our local workforce.

 

There are millions of immigrants from Afghanistan in Pakistan in search of jobs, businesses and better future which can be utilized as a positive energy and positive force for Pakistan’s fat pace development and economic growth by inducting them in laborious tasks at which our workforce is not good at and also giving them opportunities to be part of our economic growth after due codal formalities of their security clearance, registration with SIFC and certain guarantees that they will not get involved in Politics or any anti-Pakistan activities else they will be blacklist and banned for life from entry to Pakistan.

 

  1. Arbitration Model for all disputes arising with SIFC and (or) related to businesses operating under SIFC be evolved which must be led by sincere and honest experts of the field to smoothly resolve any/all disputes and avoid undue litigations.

 

  1. SIFC is for Pakistan by Pakistan not an Army alone organization:

The Propaganda that SIFC is a tool of Army to take over assets of Pakistan needs to be contested by creating awareness amongst the masses that any and all Projects, assets, investments coming under the umbrella of SIFC are of Pakistan by Pakistan for Pakistan with equal representation from all Provinces , Gilgit-Baltistan, Kashmir, federal Government, Pakistan Army and the civilian government and inclusion of major personnel from Civilian, further gaining the trust of the nation that all proceeds from SIFC projects are injected back directly to the national economic recovery and public welfare.