BoI to prepare guide for foreign investors

Islamabad: The Board of Investment (BoI) has sought detailed sectoral data from different ministries to prepare a 'guide' for foreign investors, who to some extent agree to invest in Pakistan.

Foreign investors are said to be shy to consider Pakistan as their destination due to the worsening law and order situation and the fierce fighting between the militants backed by al Qaida and military. 'We have asked all Ministries and Divisions to furnish latest information on the present and future projects which may be offered to both local and foreign investors,' sources said.

Sectoral growth during last 2-3 years, types of licences/NoCs required, upcoming privatisation project, contribution towards GDP, exports during previous 2-3 years, upcoming public and private sector projects, sectoral incentives/investment policy, demand and supply forecast for next five years, existing major investors and projects in power sector are the main areas for information sought from the ministries.

The main sectors for which investors would be attracted are oil and gas, power sector, shipping, IT and tourism. However, government officials who are responsible for inviting investors to come to Pakistan are personally not happy with the existing situation, saying how investment could be attracted in a country where no one feels safe.

One of top officials said that up till now a large number of foreign investors have cancelled their tours because of travel advisories, but the government's repeated requests to the world not to issue advisories did not succeed.

They also fear that if general elections were rigged, as is being alleged by the opposition parties, the days ahead would be more difficult for the country and investment would go down from the current level.