BoI to support machinery import without customs duty

ISLAMABAD: Board of Investment (BoI) is committed to support plant and machinery import without customs duty in Special Economic Zones (SEZs).

Priority of Board of Investment (BoI) would provide modern facilities for foreign investor in SEZs, senior official of the BoI told APP on Tuesday.

He suggested Pakistani investors to go for joint ventures with foreign investors to learn international best practices in managerial skills and technology. The official said all steps would be taken for industrial growth in the country.

He said SEZs would lead in employment opportunities and development in the area. “We are committed to facilitate the foreign investors in SEZs,” he said. The BoI would implement the modern concept of super ministry and one window operation for enhancing foreign investment through reforms of the institution. Appropriate professionals would be hired for different sectors including legal, export, investment, marketing and branding to provide conducive business environment in the SEZs. A consultative committee has been formed for this purpose, consisting of senior officials of establishment division and BoI to review and execute the reconstruction plan on modern lines. BoI wants to hire experts to enhance its capacity and to modernise the institution. He said reforms agenda for BoI restructuring would be implemented to enhance professional capacity of the institution to bring more foreign investment in the country.