SIFC Apex Committee to discuss UAE investments and FBR reforms next week

The 8th meeting of the Apex Committee of the Special Investment Facilitation Council (SIFC) has been scheduled for Wednesday next week, reported 24NewsHD TV channel Thursday.

The meeting will be attended by the Army Chief, the military leadership and the members of the Apex Committee. The meeting will deliberate on a 25-point agenda, covering various aspects of the economic and investment cooperation with the United Arab Emirates (UAE).

The meeting will review the progress made after the signing of Memorandums of Understanding (MoUs) regarding investments in the banking and economic sectors from the UAE.

The meeting will also be briefed on the reforms initiated by the Federal Board of Revenue (FBR) and the track and trace system to increase the tax net.

The Governor of the State Bank will inform the meeting about the hoarding of State Bank dollars, the Asian Clearing Union, and the RMB settlements. The meeting is also expected to take important decisions on the privatization of two RLNG power plants.

Furthermore, the meeting will receive a briefing on the subsequent updates of MoUs related to solar, wind, hydro and transmission projects from the UAE. The meeting will also be updated on the summary of handing over operations of discos to the private sector. Additionally, a briefing will be given on the MoUs of Rekodic Mining Corporation and Gwadar Port Authority.

The Army Chief will also inform the meeting about his recent visit to the UAE and the outcomes of his meetings with the UAE leadership.

Important decisions are expected in the meeting, and that the decisions of the SIFC Executive Committee will also be ratified in the meeting.