In 2023, the government formed the Special Investment Facilitation Council (SIFC) with the grand vision of attracting both, domestic and international investment into Pakistan. The idea was simple yet powerful: bring all key stakeholders, civil, military, and bureaucratic, onto one platform to fast-track investment, cut red tape, and make Pakistan more attractive to investors.
The initiative was both timely and necessary. Pakistan’s economy urgently needs new investment and SIFC has the right ingredients to make a meaningful change. Yet, while the council has just focused on facilitating projects, what is needed now is a shift in emphasis, from facilitation to attraction.
Let us be honest: doing business in Pakistan is not everyone’s cup of tea. Small and medium enterprises (SMEs) are drowning in losses, and larger conglomerates continue to move their assets abroad. Why? Because the system is compromised, plagued by inconsistent policies, bureaucratic hurdles, and weak contract enforcement. If local business leaders, with decades of experience, feel insecure, how can international investors, who by default lack understanding of Pakistan’s business climate, trust the system?
For someone sitting in London, Dubai, Riyadh or New York, the ability to invest in a project back home without fear of fraud or mismanagement could unlock billions in fresh capital.
Local and international investors need clarity, predictability, and numbers they can rely on.
The Council has identified a handful of broad sectors, agriculture, defence production, information technology, and mining but beyond naming them, it has little clarity on what actual projects are to be pursued. It has failed to provide tangible business cases, bankable projects and feasibility reports for investors. Investors do not make decisions based on slogans, they follow numbers. They want clear projections, how much capital is needed, what returns can be expected, what risks are involved and what the exit strategy is. Unfortunately, SIFC is yet to present structured cases/projects in order to attract investors.
Globally, investment councils have excelled not just through facilitation but through marketing and positioning. Singapore’s EDB and Saudi Arabia’s SAIGA are prime examples. They have invested heavily in branding, outreach and highlighting investment opportunities. They publish detailed feasibility reports, case studies, and provide sector specific roadmaps that potential investors can at once evaluate. SIFC has done little in this regard.
SIFC’s model has merit. By combining government authority with private-sector dynamism and military discipline, it can break the inertia that has crippled Pakistan’s investment climate for decades. The council has the potential to be the most powerful tool for reform but instead, it is drifting without direction, mirroring the very inefficiencies it was meant to overcome.
One of the most glaring shortcomings is accessibility. SIFC is supposed to serve as a front-door for investors and yet it almost feels like a closed club. Entrepreneurs and businesses who want to engage have absolutely no idea whom to approach and what the process is. There are no business opportunities visible on their online platforms and there is no digital system in place where investors can access information from.
Another important segment that is completely ignored is the overseas Pakistani community. Millions of Pakistanis working abroad send billions in remittances every year. Yet, most of this money goes into consumption or informal channels, not structured investments.
There must be a special mechanism within SIFC designed for overseas Pakistanis: secure, government-approved investment opportunities that assure safety and profitability. For someone sitting in London, Dubai, Riyadh or New York, the ability to invest in a project back home without fear of fraud or mismanagement could unlock billions in fresh capital.
If SIFC is to succeed, it must evolve beyond being a fast-tracking mechanism and become a true magnet for investment. That means building investor trust through transparency, creating bankable projects, reaching out to the global financial community, and giving overseas Pakistanis a structured role in the country’s economic revival.
Pakistan doesn’t just need facilitation; it needs persuasion. If SIFC can make that pivot, it may yet deliver on the bold vision it was founded upon.
The writer is a former State Minister for Education and Professional Training, former Member of the National Assembly of Pakistan, Chairperson of the Prime Minister’s Youth Programme and Director at Media Times.