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WEEKLY
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| Govt plans investment protection programme |
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Saturday, October 31, 2009
By Ikram Hoti
ISLAMABAD: The government has planned to launch an investment protection programme next week, part of the five-year Investment Policy (2010-15), in a bid to stop capital flight from the country.
Pakistan is ranked 154th out of 178 investment destinations and therefore the country would take this programme on the top of all measures being taken to boost investment in the country over the next five years.
A copy of the plan available with The News says: “Such rating causes investors to ask for higher returns on investment in Pakistan (risk premium) or to shy away altogether. This trend also induces the capital flight and needs better rating.” In this regard, certain initiatives have been underlined in the five-year plan that includes better investment regime and arbitration, regulatory system, public-private partnership, small and medium enterprises, special economic zones, privatisation process, capital market development and corporate governance, foreign investment legislation, commercial arbitration and Pakistan’s image as an investment location.
To facilitate such tasks, the government has planned to concentrate on certain sectors, targeted investor communities, channels and instruments of communications, investment projects, database systems, investment generation campaign, one-window operation, overcoming jurisdictional constraints, Board of Investment’s administrative capacities, information technology and human resources.
The government intends to ensure increased funds for these tasks under the self-financing programme and donor support. To improve the SMEs, the plan envisages reforms for cutting red tape, launching sector development strategies, making special efforts for alluring investment in medium-sized projects, joint ventures with ' Pakistanis abroad, coordinating BOI plans with SMEDA and arranging support for venture capital through the Securities and Exchange Commission of Pakistan (SECP).
The following projects are being launched to support the SME development programme: Women Business Incubation Centre, Lahore; Gujranwala Business Centre; Agro-Food Processing Facilities, Multan; Revival of Cutlery Institute of Pakistan, Wazirabad; Glass Products Design and Development Centre, Hyderabad; Sports Industries Development Centre, Sialkot; Aik Hunar Nagar Rural Enterprise Modernization project.
Ironically, the Interior Sindh, Balochistan, Siraiki Belt and NWFP have been ignored in focusing on the need for such projects.
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ISSN 1563-9479 
