SIFC apex committee to take critical decisions today

ISLAMABAD: An extraordinarily important meeting of the Special Investment Facilitation Council (SIFC) will be held today (Wednesday) under the chairmanship of Caretaker Prime Minister Anwar-ul-Haq Kakar.

Federal Ministers of Energy and Petroleum, Information Technology, National Food Security, Board of Investment, National Aerospace, Science and Technology and ISI Chief Lt-General Nadeem Anjum are likely to participate. The chief ministers and chief secretaries of Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan will also participate in the meeting. Saudi Arabia and Gulf countries are expected to invest $6bn in corporate farming by 2028.

The Special Investment Facilitation Council has been named Rising Pakistan with its office in the Prime Minister›s Office headed by a senior military officer. According to sources of Rising Pakistan, the MOU in the field of information technology was signed on Sunday by Pakistan›s Caretaker Minister for Information Technology Umar Saif and Saudi Arabia›s Abdullah Al-Sawaha, Minister of Communications and Information Technology.

According to the MoU, both countries decided to increase cooperation in the digital economy at the government and private levels. According to Federal Minister of Information Technology Umar Saif, Saudi Arabia would also issue licenses to Pakistani IT companies to operate in Saudi Arabia.