Pakistan’s apex council approves SEZ plan, reviews economic gains for 2025 growth

The 11th Apex Committee meeting of the Special Investment Facilitation Council (SIFC) was held in Pakistan’s capital Islamabad on Thursday, chaired by Prime Minister Shehbaz Sharif. The session reviewed initiatives under the SIFC framework aimed at driving Pakistan’s economic recovery and development.

The meeting was attended by Chief of Army Staff General Asim Munir, members of the federal cabinet, provincial chief ministers, along with other senior officials.

Key approvals and reviews

The committee approved an Action Plan for optimizing Special Economic Zones (SEZs) to revitalize Pakistan's industrial sector. A proposal for a National Minerals Harmonization Framework was also reviewed, with input from all stakeholders.

Briefings were provided on initiatives for human resource development, including skills improvement and international accreditation. Provincial chief ministers shared economic growth measures being implemented in their regions.

Economic achievements highlighted

Prime Minister Sharif emphasized the importance of collective efforts for sustainable growth, stating, “2025 will be a year of economic prosperity for Pakistan.” He highlighted key achievements:

• Inflation has fallen to 4.1%, the lowest since 2018.
• Remittances rose by 34% in the past five months.
• Exports have seen significant growth.
• Foreign exchange reserves surged from $4 billion to over $12 billion.
• Policy rates dropped from 22% to 13%.

He added that further reductions in policy rates are possible, given the inflation rate. The stock exchange is at an all-time high, reflecting investor confidence.

PM’s Vision and Regional Progress

“Political stability is essential for prosperity,” PM Sharif said. He noted trade agreements with Gulf nations, increasing ties with Central Asian states, and progress on delivering goods to Russia through the National Logistics Cell.

“Middle Eastern countries have signed significant business deals with Pakistan, and we must swiftly implement these agreements,” he stressed.

Security and stability

Gen Munir assured the council of the Pakistan Army’s full support in maintaining peace and enabling economic initiatives. PM Sharif commended the sacrifices of law enforcement personnel, particularly in restoring peace in areas like Parachinar.

The premier also highlighted the importance of reducing electricity prices to boost economic activity and addressing tax system inefficiencies to improve revenues.

Collective action for 2025

“2025 will be a year of economic growth,” Sharif reiterated, urging national unity to transform Pakistan into an “economic tiger.” He thanked SIFC and other stakeholders for their contributions to the National Economic Transformation Plan 2024-2029, dubbed “Uraan Pakistan.”

The committee concluded by emphasizing the importance of collective efforts to ensure economic dividends reach the public.