Page 14 - CMA Journal (Mar-Apr 2026)

strategic location unmatched in the region, and an
institutional reform framework, SIFC, designed “ The establishment of
speci cally to reduce friction and facilitate global capital
into Pakistan.
SIFC created a
ICMA: How effectively is the SIFC framework translating
into on-ground results in terms of faster approvals, complementary
reduced regulatory friction, and improved investor
experience? architecture: BOI

Jamil Ahmad Qureshi: The SIFC has served as the retains its regulatory
institutional catalyst for FDI from mid-2023, by facilitating
transactions that require exactly the kind of inter- reforms mandate and
departmental coordination that SIFC was designed to
provide. Under the Board of Investment Act 2023, SIFC can
now directly call upon regulatory bodies and government
agencies in cases of approval delays, providing investors a investor interface “
functions.
formal escalation mechanism that did not previously exist.
Honestly, full transformation of the regulatory experience
will require deeper digital automation. However, the
direction of reform is clear and the pace is accelerating. SIFC's Jamil Ahmad Qureshi: Prior to June 2023, the BOI was the
active intervention in energy, health and agriculture project sole federal investment facilitation agency; it was valuable
timelines is evidence of the framework functioning on the but toothless, overburdened, under-resourced, and
ground. From the investor's vantage point, the most insufficiently connected to decision-making power. The
important signal is that when things stall, there is now a establishment of SIFC created a complementary architecture:
powerful institutional mechanism to resolve them. BOI retains its regulatory reforms mandate and investor
Accountability architecture is itself a form of investor interface functions, while SIFC provides the high-level inter-
protection. provincial and inter-departmental decision-making
authority to resolve systemic blockages.
ICMA: How is BOI evolving within the SIFC ecosystem to
SIFC serves as BOI's capacity ampli er. When BOI identi es
strengthen coordination, improve regulatory efficiency,
regulatory barriers, whether in customs, drug regulation, or
and enhance institutional credibility for investors?
infrastructure permits, SIFC provides the inter-ministerial
convening power to resolve them.
“ Under the Board of ICMA: What is your key message to global investors
regarding Pakistan's ability to ensure policy stability,
Investment Act 2023, SIFC can execution certainty, and long-term investment protection
in an uncertain global landscape?
now directly call upon Jamil Ahmad Qureshi: Pakistan is ensuring policy stability
and long-term investment protection through SIFC. The SIFC
regulatory bodies and Apex Committee, co-chaired by the Prime Minister and Chief
of Army Staff, represents the broadest and most durable
government agencies in cases statement of state level commitment to the investment
agenda in Pakistan's history. Pakistan is ready.
of approval delays, providing SIFC is committed to converting red tape into a red carpet for
our domestic and foreign investors.
investors a formal escalation
The Editorial Board thanks Mr. Jamil Ahmad Qureshi,
Secretary, Special Investment and Facilitation Council
(SIFC) and Board of Investment (BOI) for sparing his precious
previously exist. time to give an exclusive interview for Chartered Management
Accountant Journal.
mechanism that did not “

ICMA’s Chartered Management Accountant, Mar-Apr 2026 12