BoI seeks FPCCI help to prepare investment policy

KARACHI: The Board of Investment (BoI) has sought help and assistance from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in framing a robust investment policy to enhance productivity and ease in doing business.

BOI Secretary Mohammad Jehanzeb Khan, in a meeting with the office bearers of the FPCCI, said that the investment policy had been formulated to create an investor

friendly environment, with focus on further opening up the economy, attracting

foreign direct investment (FDI), and providing equal treatment to foreign and local investors.

“This could be achieved with support and input from the FPCCI which has its fingers on the pulse of the economy and serves as a bridge between the private sector and the government,” the secretary said.

With the assistance of FPCCI, BoI plans to promote local entrepreneurs to setup industries in the country so that FDI could be encouraged, Khan said.

“Pakistan is lagging behind in providing business opportunities as compared to the other countries in the region and there is need for regular interaction and consultation with FPCCI for preparing policies attractive enough for the foreign investors,” he added.

FPCCI Vice President Mazhar Nasir said the federation was ready to render all out support and assistance, and would also prepare a draft investment plan 2019 as desired by the secretary.

Meanwhile, he emphasised the need for activating the commercial section of Pakistan missions abroad to promote investment opportunities and incentives given by the government of Pakistan to the potential investors.

He reminded that it was decided that FPCCI and BoI would jointly organise investment meetings in different cities within the country as well as abroad.

Talking about the neglected sector of tourism, Nasir said that BoI might explore this sector which definitely had immense potentials. “All what required is to study the prospects and develop a comprehensive plan to reinvigorate this sector and FPCCI could help BoI.”

The meeting also discussed China-Pakistan Economic Corridor and agreed that Pakistan entrepreneurs should also be provided with a level playing field.