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ISLAMABAD, May 19 (APP): Federal Minister for Parliamentary Affairs Dr. Tariq Fazal Chaudhry said on Monday that the establishment of the Special Investment Facilitation Council (SIFC) has led to a record increase in foreign investment in Pakistan.
He highlighted SIFC’s crucial role in removing bureaucratic hurdles that previously discouraged international investors.
Speaking during the National Assembly’s question hour, Dr. Fazal Chaudhry responded to a query from MNA Shazia Marri by stating that the creation of SIFC was aimed at eliminating red tape and simplifying investment procedures. “Since its inception, more than $2 billion in foreign investment has flowed into Pakistan, and our economic indicators are improving,” he said.
Answering a supplementary question from MNA Arshad Abdullah, the minister acknowledged that Pakistan’s bureaucratic processes had long deterred global investors. “In our system, even setting up a petrol pump requires 21 NOCs, while in Indonesia, only one NOC is needed to establish an industry,” he said, emphasizing SIFC’s goal to eliminate such inefficiencies. “We are moving from manual to automated systems to streamline investment processes.”
Responding to another question by MNA Usama Hamza, Dr. Fazal Chaudhry mentioned that SIFC plays a key role in Pakistan’s economic progress. He also alleged that Indian proxies operating in Balochistan and Khyber Pakhtunkhwa faced strong resistance, prompting India to resort to acts of aggression.
Dr. Fazal Chaudhry reaffirmed the government’s commitment to economic reform and attracting foreign investment through institutional modernization and security improvements.