SIFC must give priority to the private sector
KARACHI: Privatization and foreign investment appear to be a high priority for the transitional government. And in this context it recently amended the Investment Council Ordinance 2001. This amendment creates a Special Investment Facilitation Council (SIFC). SIFC’s mandate is to facilitate foreign investment and privatization of GOP-owned companies. And this is where the amendment makes its first mistake. Privatization and attracting foreign investment are two fundamentally different processes that should not be left to a single entity. Privatization involves a careful strategic review of GOP-owned companies from several perspectives: market factors, competition, organization, governance, financial resources and business strategy. Once
