Islamabad, July 26, 2023 (PPI-OT): The federal cabinet has approved draft of the amendment bill of the Investment Board Ordinance 2001 for promotion of foreign investment in Pakistan. The decision to this effect was taken in the federal cabinet meeting held in Islamabad today with Prime Minister Shehbaz Sharif in the chair. The amendment will empower the Special Investment Facilitation Council (SIFC) and evolve mechanisms for working relationship with various ministries and provincial governments, besides raising its basic structure and formulating nature of work.

Once it will become law, the Special Investment Facilitation Council will ensure speedy implementation of foreign investment projects in the country. The Cabinet, on the recommendation of the Ministry of Narcotics Control, constituted a ministerial committee under the chairmanship of Defence Minister Khawaja Muhammad Asif to finalize the National Cannabis Policy.

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