Decisions, orders: Ministries' delay ‘tactics' draw the ire of SIFC's EC
ISLAMABAD: The Executive Committee (EC) of the Special Investment Facilitation Council (SIFC) has expressed annoyance at the ministries for allegedly using delaying tactics in adherence to its decisions and instructions in letter and spirit, well-informed sources told Business Recorder.
These assertions were made by the EC in its previous meeting after claiming that the Ministries are implementing its decisions half-heartedly.
'The forum observed that decisions rendered by various committee of SIFC (AC, EC &IC) are not being adhered to in true letter and spirit,' the sources added.
PQA land sale: PM Shehbaz constitutes inquiry body
The forum reiterated that directions of the SIFC are binding and may be taken in true letter and spirit in accordance with para 10 E & H of SIFC Act.
The forum also raised concerns over inordinate delays in the approval of summaries/other documents due to lack of pursuance by the parent Ministry/Department.
The SIFC-EC directed that the parent Ministry initiating the summary for approval of Prime Minister, Federal Cabinet, the Economic Coordination Committee (ECC) of the Cabinet or any other forum shall be responsible to expedite the summary at each stage of process including seeking input of involved stakeholders. In future no excuse regarding the delay of summaries will be accepted.
On the issue of continuation of LPG and Liquid Chemical Terminal at PQA, the EC was informed that PQA and EVTL signed the 2nd Supplemental Implementation Agreement (SLA) on January 15, 2025 and 3rd SLA on February 24, 2025. EVTL submitted an initial proposal on January 15, 2025.
The meeting was further informed that multiple meetings were held between PQA and EVTL teams in presence of representatives of MoMA, SIFC and Ministry of Finance. Detailed analysis of EVTL's model, study of its financial statements and contractual obligations was carried out to establish model's veracity. Resultantly, EVTL submitted their final proposal on February 26, 2025.
On February 27, 2025, PQA Board proposed to approve extension in concession term in favour of EVTL for another 30 years from June 18, 2026 on BOT and non-exclusive basis subject to concurrence by MoMA and SIFC.
The SIFC-EC endorsed the PQA Board decision for extension in concession term and asked MoMA to immediately process the summary to seek approval from the Federal Cabinet through Cabinet Committee on SIFC (CCoSIFC) without any further delay.
On navigational channel dredging, Chairman PQA stated that tender documents for dredging project were published on February 13, 2025. Pre-bid meeting was held on February 24, 2025 which was attended by six companies.
He further stated that responses to queries submitted by dredging companies are being processed according to procedures outlined in the tender documents. Bid submission date was April 7, 2205.
Dredging project after completing all codal formalities is likely to commence in 3rd quarter of 2025 and completed by third quarter of 2027.
The meeting decided that MoMA/PQA to conduct a case study for identification or underlying causes leading to delay in dredging since 2010, so as take preventive measures in future.
Both MoMA and PQA were also directed to ensure that the timelines for capital dredging must be followed without delays.
Copyright Business Recorder, 2025
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