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SIFC’s Economic Growth Initiatives: Council Seeks to Encourage Investment and Sustainable Development

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6 months ago

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By taking strategic actions meant to encourage investment and sustainable growth, the government of Pakistan has energized the mining and minerals industry.

Reaching significant milestones in its first year of existence, the Special Investment Facilitation Council has proven its dedication to economic expansion.

Along with launching programs for the welfare of miners, SIFC has put in place a number of policies to support the industry.

Within the framework of its corporate social responsibility initiative, Reko Diq Mining Company and the Hunar Foundation have started vocational training in Chagai. Accompanying financial aid measures are facilities like hospitals, helplines, and schools for the families of the miners.

To assess worker performance and guarantee standard adherence, SIFC has put in place key performance indicators. on mining tenders, open bidding has settled more than a thousand outstanding applications, fostering openness grounded on meritocracy and just competition.

Through streamlining the auction process, enhancing accessibility, and lowering transaction costs, the government’s establishment of an e-auction facility enhances efficiency and transparency in resource allocation.

Under the government-to-government concept, a $1 billion mining fund established with Kuwait is expected to propel economic growth. In Pakistan’s Pink Rock Salt Resources, a joint venture between Pakistan Mineral Development Corporation and Miracle Salt Collective Incorporation will invest $200 million.

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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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6 days ago

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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