Islamabad: The federal government has announced its decision to merge the Board of Investment (BoI) into the Special Investment Facilitation Council (SIFC) to streamline and enhance the effectiveness of the country's investment system.

According to Radio Pakistan, this strategic move is aimed at bolstering investment cooperation, particularly in the context of the second phase of the China-Pakistan Economic Corridor (CPEC). The integration of BoI into SIFC is expected to play a pivotal role in attracting foreign investment and executing the nation's investment policies more efficiently.

Under the newly established structure, the SIFC will be primarily responsible for promoting foreign investments in Pakistan. The council is also tasked with formulating a comprehensive roadmap for the development of Special Economic Zones, enacting regulatory reforms, and facilitating investment processes to create a more investor-friendly environment.