Section 10C: Functions of the Special Investment Facilitation Council

10C. Functions of the Special Investment Facilitation Council.__ (1) Without prejudice to the generality of section 10B, the SIFC shall, inter alia.__ (a) act as Single Window for multi-domain cooperation in Relevant Fields with GCC countries, in particular, and other countries in general, for facilitation of investment and development of an enabling policy environment; (b) recommend approvals, execute commercial transactions, and/or enter into arrangements and agreements, directly or indirectly, with local and foreign investors; (c) enter into commercial engagements and transact with governmental as well as corporate entities, for the purposes envisioned under this Chapter of the Ordinance; (d) prepare long-term road-map for growth, development and investment in the 'Relevant Fields', while capitalizing on fast track initiatives; (e) enhance awareness of Pakistan's latent potential in the 'Relevant Fields'; (f) improve ease of doing business by, inter alia, facilitating timely decision making, avoiding duplication of effort, fast-tracking investment and projects implementations, etc.; (g) monitor the progress of investment programs projects at all stages and ensure, through inter-agency and inter-provincial coordination, prompt implementation and operations thereof; (h) review investment promotion plans, formulate institutional arrangements, make transparent and simplified procedures and guidelines for investment promotion; (i) appraise, evaluate and process all investment proposals and projects received from the investors; (j) appoint commissions, expert bodies and consultants to study various aspects of attracting investment in all sectors; (k) promote an enabling environment for investment by encouraging deregulation and other measures to remove unnecessary obstacles in the process; (l) consider individual investment proposals as well as categories of investments that require special treatment, and recommend, where appropriate, additional incentives or relaxation in the regulatory and policy framework; and (m) perform any other function assigned by the Federal Government. (2) In order to carry out its functions, the SIFC may adopt any procedure or process, with the approval of the Federal Government.

Effective date: 2001-01-01

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