ISLAMABAD (Web Desk) - Special Investment Facilitation Council (SIFC) said on Tuesday that it has cleared regulatory hurdles to pave the way for seven new cement plants in the country worth a total investment of $700 million, stating that the move is expected to boost output, curb imports and enhance exports.
SIFC has been central to Pakistan’s efforts to attract foreign investment and streamline regulatory approvals amid recurring balance-of-payments pressures.
Jameel Qureshi, the SIFC’s federal secretary, shared a report on X that said the body had granted approvals to longstanding hurdles for seven new cement plants in coordination with the government in Punjab and other relevant stakeholders.
“SIFC clears the long-standing regulatory hurdles, paving way for 7 new cement plants with $700million investment,” he wrote on X. “This initiative will create jobs, boost domestic output, curb imports, save our important forex & expand export capacity.”
The report quoted officials as saying that the new cement plants are expected to generate jobs across manufacturing, logistics and energy sectors, while stimulating downstream sectors tied to infrastructure development.