Minister visits ID & BoI

Islamabad: The Minister for Privatisation and Investment Syed Naveed Qamar visited Investment Division and Board of Investment (ID&BoI).

The minister was given a detailed presentation by senior officials as the agenda of the meeting was to have an insight of the facilitation services and other activities carried out by ID&BoI for the promotion and facilitation of local and foreign investment says a press release.

The ID&BoI acting secretary Major Iqbal Ahmad (Retd) while briefing the minister said that on-ground investment situation in Pakistan is far better than the one projected and hyped by the foreign media.

The minister was informed that the government aims to provide a level playing field to all investors and to facilitate foreign investors and the government has introduced the concept of Special Economic Zones (SEZs).

Moreover, some mega investment projects in the key economic sectors eg Metro Cash and Carry of Germany, Indus Refinery ($900 million) of US, Midroc Tussonia of Kuwait, Khalifa Point Refinery, Nakheel Limitless of Dubai, and Qatari Investment were among the highlights of the projects facilitated by BoI. The issues and grievances were also discussed with the minister.

It was informed that BoI actively contributes towards the creation of a stable, predictable, and transparent regulatory framework for investors. This also helps facilitate investors by following internationally agreed common practices for dispute resolution.