Finance ministry admits transparency gaps in key investment projects

A Ministry of Finance report has accepted that the absence of structured transparency in the Special Investment Facilitation Council's (SIFC) initiatives could undermine policy predictability and weaken the confidence of investors. In its 240-page Prime Minister's Economic Governance Reforms Agenda, the finance ministry committed to bringing transparency in the SIFC affairs, showed the report released last week. The ministry prepared the report as part of an action plan of the International Monetary Fund's (IMF) Governance and Corruption Diagnostic Assessment. "The absence of structured transparency around strategic investment initiatives, including those facilitated through the SIFC, creates informational asymmetries that can undermine policy predictability, elevate perceived governance risks and weaken investor confidence," read the report.