BOI to make policy on technology exchange

KARACHI: Board of Investment (BOI) on Saturday said a policy on technology exchange was in pipeline and expected to be presented within six to eight weeks.

The importance of technology exchange became emerged after the outbreak of Covid-19, said Azfar Ahsan, chairman BOI, while addressing members of Korangi Association of Trade and Industry (KATI).

BOI chief also disclosed that Global Investment Summit to be held in March next year and the country would receive ‘good news’ of foreign direct investments (FDI) in coming months, he predicted.

He assured that the prime minister was keeping a close watch on the economic situation of the country.

Inviting KATI members to visit the BOI, Ahsan announced that special desks for the association would be set up in the BOI through which problems of Korangi industrialists would be heard on priority basis.

“We have developed short-term and long-term plans in the economic strategy, and work on one-window and automation is in full swing,” he said.

Earlier, S.M. Muneer, patron-in-chief at KATI, said the prime minister had asked him to form a think tank to brief him[the PM] on his proposals for improving the economy.

KATI president Salman Aslam was of the opinion that appreciation of the rupee is essential for stable investments and direct investments in the country are also crucial, for which the government needs to improve infrastructure and reduce production costs, he suggested.

“If confidence of local investors is restored, foreign investors will invest in the country,” he said.

KITE CEO Zubair Chhaya said local investors were worried and the country's survival depends on the confidence of local investors. He added many industrial areas were facings problems of electricity, gas, as well as lease. The country could not develop without improving Karachi, he emphasized.