ISLAMABAD (Mehtab Haider) The Special Investment Facilitation Council (SIFC), which was run by senior military officers and senior civilians, is now in the process of final disposal of the billions of dollars of the Rekodic project. Ready to start trade negotiations with Saudi Arabia and Barak Gold. In this regard, the global valuation of the shares of Recodec has been done after which the benchmark price per share has been determined, this will help in making the deal transparent. These views were expressed by Dr. Jahanzeb Khan, Special Assistant to the Caretaker Government while speaking. He termed SIFC as a revolutionary concept and said that after careful consideration, a parallel body was established through the Board of Investment.
In response to the question of the journalists regarding the involvement of the army in SIFC, he said that "the attitude of working together should be adopted, the presence of the army will also provide security and they will also benefit from the skills that they have." He has developed in various fields. It was also confirmed in the council meeting that the ongoing war in Gaza has had a negative impact on the desire and prospects of the Gulf countries for 70 billion dollars that Pakistan had because at present everyone is focused on the same common issue. Regarding Recodek, the global valuer (Evaluator) has finalized the share prices, now its trade deal between Saudi Arabia, Barak Gold and the Pakistani side is yet to be finalised.
The global consultancy has set a benchmark of value per share. This will help ensure transparency in the upcoming deal. It is too early to say what the model of the proposed trade deal will be as different parties may insist on their preferred models. While the Pakistani side (members of SIFC) will protect their commercial interests. SIFC will continue even after the election, but its establishment has been implemented through a law passed by the parliament. SIFC will help the 'Armed Forces' to deliver on the required projects. It has not yet been decided whether SIFC will be integrated into the Board of Investment or not.
He further said that there is potential to bring in investments of 70 billion dollars in various sectors and SIFC has identified some viable projects that can be completed in various sectors like mining, agriculture, IT and other sectors. He said that China is committed to complete projects under CPEC, but its dues regarding Multan Sekhar and power sector projects are still pending, so we could not provide them with good experience in this regard.
But as far as the next phase of CPEC is concerned, it will establish their links with the private sector. A He said that the stage of political change is being set and no one can predict the future but SIFC has been established under the law approved by Parliament. Answering a question regarding the involvement of the army in SIFC, he said that there is a need to understand the attitude of working together, so the help of the army will help in ensuring security and so on in different sectors. The skills I developed for them will also come in handy.
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