The draft of the amendment bill of the Investment Board Ordinance 2001 has been approved by the Federal Cabinet for the promotion of foreign investment in Pakistan.
According to the media reports, the Federal Cabinet has approved the draft of the amendment bill of the Investment Board Ordinance 2001 in a meeting held in Islamabad today (Wednesday, July 26th) with Prime Minister Mian Muhammad Shehbaz Sharif in the chair.
The meeting was told that the amendment will empower the Special Investment Facilitation Council (SIFC) and provide methods for collaborating with various ministries and provincial governments, in addition to raising its fundamental structure and defining the nature of its activity. The Special Investment Facilitation Council, once established, will oversee the timely implementation of foreign investment projects in the country.
On the recommendation of the Ministry of Narcotics Control, the Cabinet established a ministerial committee to draft the National Cannabis Policy, chaired by Defence Minister Khawaja Muhammad Asif.