SIFC Second Year Brings Remarkable Advances in Industry, Tourism, and Privatization

In its second year, the Special Investment Facilitation Council (SIFC) has achieved notable success across industry, tourism, and privatization sectors.

A major development includes the partnership between BYD (Build Your Dreams) and local Pakistani companies for manufacturing electric vehicles, signaling a boost to the country’s industrial capabilities. Under SIFC’s guidance, the industrial approval process has been streamlined, reducing the time by 35%, which has helped restore investor confidence.

In the tourism sector, Pakistani startup ‘BookMe’ has expanded its operations into Saudi Arabia, marking the international advancement of Pakistani tourism technology facilitated by SIFC. Additionally, 44 guest houses in Gilgit-Baltistan have been restored under green tourism initiatives, creating approximately 4,000 new jobs.

Tourism development has also progressed through private partnerships in Sindh, with projects at key sites like Kinjhar and Gorakh Hills setting new examples for regional tourism growth.

Significant steps have been taken to ease travel and investment through the introduction of visa-on-arrival facilities for travelers from 126 countries, including the Gulf Cooperation Council (GCC) states, thereby encouraging tourism and foreign investment.

In the privatization arena, seven international companies have expressed interest in the privatization of Pakistan International Airlines (PIA), promising improved services and increased revenues. Furthermore, the government has approved the ‘Government to Government’ (G to G) model for the privatization of distribution companies.

Preparations are also underway for outsourcing the operations of Islamabad, Karachi, and Lahore airports, aiming to elevate service standards to world-class levels.

Through transparency, timely decision-making, and investor facilitation, SIFC has provided a renewed direction for Pakistan’s economic development in its second year.

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