Investors to come if they can make money: Imran

ISLAMABAD: Prime Minister Imran Khan has termed creation of wealth imperative for alleviating poverty from the country, saying businesses must prosper to achieve this objective. He has investors will come to Pakistan only if they are able to make money. He said the government is making policy to curb smuggling and money laundering.

He vowed that Pakistan would be made economically self-reliant by getting rid dependency syndrome since it’s finically viable and strong. Addressing the Pakistan Economic Forum here on Thursday, Khan said that government is taking measures to ensure conducive atmosphere for the business community.

“If businesses prospers, poverty will be alleviated,” he said. The Prime Minster said that wealth creation is necessary to take the country forward. He said that a business friendly culture will be introduced and businessmen will be encouraged to invest their capital in various sectors.

“No country can progress if it presents its industrialists as criminals. Making money is no sin, but using unfair means to make it or avoiding tax is,” he added. Counting China as an example, Imran Khan said that East Asian country lifted 700 million people out of poverty in three decades.

He said, “We will learn from China's experience to alleviate poverty in the country.” He said, “Focus is being put on improving competitiveness of our products to grab major share of exports in world markets.” He said incumbent government has introduced policies to facilitate export industry.

The Prime Minister said money laundering and smuggling harm the country hard and steps are being taken to discourage these practices. He said the tax policy and collection have been separated in order to create a favourable environment for businesses.

He said Pakistan is an attractive destination for investment and in recent months many foreign firms have expressed keen interest to invest in various sectors of Pakistan. The Prime Minister assured the business community that he will keep in touch with it on regular basis.

The Prime Minister said that it is needed to dispel the notion that creation of wealth is inappropriate; it can, in fact, help eliminate the scourge of poverty. “The days ahead will bring more convenience and opportunities for the investors,” he assured. “We must provide secure environment to the businessmen.”

The premier termed self-reliance absolutely imperative in order to free the country from dependence on others. He said, “The examples of China and other countries can be followed in this regard.” He said that Pakistan has a shocking level of poverty.

“We are going to introduce ‘poverty alleviation programme’, the first of its kind,” he said. He announced that the government will make all-out efforts to seize smuggling of dollars.

Earlier, he chaired a high echelon meeting to review progress on improving ease to doing business and creating a enabling environment to facilitate conversion of interest of the local as well foreign investors into actual investment in the country. The Prime Minister directed Chairman BOI to present a comprehensive plan, listing all the issues in various sectors and their sub-sectors and how the processes could be streamlined to simplify procedures related to government approvals, addressing taxation issues, dispute resolution and facilitating investors/businesses.

The meeting was attended by Finance Minister Asad Umar, Law Minister Dr Farogh Naseem, Commerce Advisor Abdul Razak Dawood, Chairman BOI Haroon Sharif, Federal Secretaries and senior officials.

The Chairman BOI briefing the meeting about the steps taken so far said that the BOI would be serving as agent of change for facilitating business transactions, removing impediments in way to materialisation of investors’ interest into actual investments and smooth functioning of the businesses in the country.

He informed the Prime Minister about various issues being faced by the business community including taxation, access to finance, regulation and policy issues and red-tapism.

The chairman said that BOI was also actively working with the provinces and relevant ministries for removing barriers in the way of establishing Special Economic Zones.

He said that special efforts were being made to bridge the gap between private and public sector and to reach out to the private sector to revive their confidence in government policies and put in place a framework that facilitates business community in its business pursuits.

Chairman BOI briefed the Prime Minister about Naya Pakistan Diaspora Fund which is being set-up to promote SMEs and rural development in key areas of education, health and infrastructure development.

He also apprised the Prime Minister of the Investment Framework which has been structured for attracting and materialising investment from UAE, Saudi Arabia, China, Japan and Malaysia. It was decided during the meeting that Prime Minister would chair a review meeting every month on Ease of Doing Business in the country.

In another meeting, the Prime Minister Khan approved a proposal for bringing Shuhuda Assistance Package for ICT Police personnel at par with other parts of the country. The Prime Minister has also approved provision of Sehat Insaaf Cards to the police personnel for catering to their health needs.

Chairing a briefing about the performance of Islamabad Capital Territory Police and the way forward in transforming ICT Police into a model police force, the Prime Minister appreciated the efforts of ICT Police towards maintenance of law and order and ensuring security of the capital directed that a comprehensive plan be submitted for meeting the requirements of ICT Police.