The aim of setting up the council is to remove the bottlenecks and discrepancies in the way of investment. There is a dire need to establish such institutions in the country. In fact, it is the mechanism to cut down the disparities that are the byproducts of our way of working and create an investment friendly atmosphere in the country.
There are a lot of prospects for investment in every sector, but in this regard Pakistan is far behind than other countries as it failed in protecting the necessary rights and Interests of foreign and indigenous investors.
The complex system that contained impediments at every step can be conducive to the investment. In these circumstances the investment turned its direction towards the fixed low income producing sector instead of industries and services sector. But the strategy of Pakistan should be contrary to that as it is the country where youth is in more numbers and it needs more and more jobs.
It is the requirement of time to encourage the industry and services sector so that the investment may come to the country, and no one can deny the importance of the Special Investment Facilitation Council to achieve the goal of bringing the investment to Pakistan.
The council after its birth, is endeavoring hard to accomplish its target and by seeing the hard work of the institution, it is hoped that it will be useful framework and like its name it would provide best facilities to the foreign and local investors and play its positive role in removing obstacles for economic prosperity of as well as getting the investment opportunities in the country by taking positive and prudent decisions.
There are many stories that are spreading among the people regarding the investment. If we take Reko Diq, a gold mining project, which was restricted to the paperwork for many years. As no development took place in the project so the foreign investors knocked the doors of court and law and many precious years were wasted in the litigation. It is just an example as there are countless projects in which the people at helm of affairs did not allow the project to be completed for their personal interests. Now Pakistan is compelled to sign an agreement with IMF and other international donor agencies for just one billion dollars, which is the price of ignoring such projects that could attract investment. If the country had taken the benefits of these opportunities, then it would have been counted in the wealthy and prosperous nations and the international donors could not have imposed their toughest conditions on it.
Now it is high time that as a nation Pakistan should take a turn and compensate for the damages done in the past and to make sure that the tradition of deficits should be ended. There are a lot of hopes with the Special Investment Facilitation Council that it will bring the investment especially attract the foreign investors.
But for this the streamlining of the national institutions and providing a package of complete amenities should be provided to the investors.