COAS reiterates army's resolve to 'backstop' govt initiatives for economy's recovery

• Ministries present progress on projects identified in key sectors. 
• Federal cabinet members, CMs, high-level officials attend meeting. 
• Meeting reviews progress on measures to improve investment climate.

Chief of Army Staff General Asim Munir on Thursday reiterated the army's undaunted resolve to "backstop" the government initiatives in various domains for sustainable recovery of the economy.

The army chief reassured the army's resolve during the 7th meeting of the Special Investment Facilitation Council's (SIFC) Apex Committee meeting, chaired by Caretaker Prime Minister Anwaar-ul-Haq Kakar, to review various initiatives being led through the forum.

The meeting, according to a statement released by the Prime Minister's Office (PMO), was attended by members of the federal Cabinet, provincial chief ministers, and various high-level government officials.

During the meeting, the ministries presented progress on projects identified in key sectors and gave plans to further improve the ecosystem for realising the envisaged investments in a timely manner.

"The committee showed extreme satisfaction on overall progress under the umbrella of SIFC, appreciated the enhancing level of engagements with friendly countries, both public and private entities, and outreach strategy to proactively engage investor’s community, which is translating in enhanced traction and approvals at domestic and global stage," the PMO said.

Moreover, it reviewed the progress on various measures undertaken to improve the investment climate and approved policy-level interventions to further improve investors’ confidence including repatriation of profits, strengthening domestic dispute resolution mechanisms, infrastructural and human resource development, and speedy operationalisation of EXIM Bank.

The committee also directed the authorities to make a comprehensive strategy to address oil and gas issues in a sustainable manner by investing in relevant industries.

Furthermore, it reviewed and appreciated the progress on privatisation of state-owned-enterprises and directed to keep the process at a fast pace.

Meanwhile, PM Kakar directed all the stakeholders to "vigorously pursue SIFC's initiatives through a collaborative approach to reap the dividend" in short to medium terms besides, initiating processes for long-term endeavors in greater interest of the country.