SIFC Initiatives to Catalyze Economic Revitalization: Pakistan Minister

Thu Dec 28 2023
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KARACHI: Pakistan’s Caretaker Minister for Commerce, Industries, and Production, Dr. Gohar Ejaz, reiterated the government’s commitment to economic revival and said that initiatives by the Special Investment Facilitation Council (SIFC) would usher in a new era of industrialization in Pakistan.

Chairing a meeting with a delegation representing various sectors, including agriculture, textile, and engineering, the minister outlined government priorities and SIFC’s role in the economic revival process.

Dr. Gohar Ejaz highlighted SIFC’s active engagement with the Gulf Cooperation Council and China to boost the inflow of foreign investment into Pakistan. He said that the investment would spur industrial growth, boost exports, and create employment opportunities in the country.

While acknowledging Pakistan’s vast trade potential, the Gohar Iajz stressed the need to enhance trade both regionally and globally. Despite a population of 250 million, the economy’s volume stands at $350 billion, with a trade volume of nearly $100 billion. Dr. Gohar Ejaz emphasized the importance of taking comprehensive measures to strengthen the economy sustainably.

Regarding China, he described it as not only an “iron friend” but also a crucial trade partner. Dr. Gohar Ejaz urged Pakistani businessmen to explore trade opportunities in China and enhance bilateral trade relations.

SIFC’s Blueprint for a Progressive Industrial Sector

Karachi, being the economic hub of the country, attracted interest in investments from countries like China, Saudi Arabia, and Kuwait. The minister revealed the government’s plans to open Garment City, establish a new industrial estate, and set up a new Special Economic Zone and Export Processing Zone in Karachi, promoting innovative trends in industrialization, particularly for small industries.

Dr. Gohar Ejaz assured that SIFC would remain a continuous and progressive institution, working with new assemblies and governments after the upcoming general elections to ensure policy sustainability.

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