Foreign investment into Pakistan increases by 154%

ISLAMABAD, Pakistan: The Foreign Direct Investment (FDI) into Pakistan witnessed a 154 percent increase during the first two months of current financial year 2017-18 as compared to the corresponding period of last financial years 2015-16.

Talking to the state-run news agency, Additional Secretary and Spokesman of Board of Investment (BOI) Shah Jahan Shah said that during July-Aug 2017 period, the net FDI inflow into the Country is $457.2 million against $179.4 million during July- Aug 2016 and over overall the power and communication sectors attracted the major inward FDI.

Shah Jahan Shah said that Investment Facilities Center (IFCs) would also be established in Karachi, Lahore, Islamabad and Peshawar to provide modern facilities to investors. He said that Special Economic Zones (SEZs) investors would get the facility for plant and machinery import without customs duty in all four provinces of the Country.

The BOI Spokesman said that all steps would be taken for the industrial growth in the Country.

The Spokesman suggested Pakistani investors should go for joint ventures with foreign investors to learn the international best practices of managerial skills and technology.

The Spokesman of BOI said that SEZs would lead to create employment opportunities and development in the area.

Replying to a question, he said that the government is working on a plan for reconstruction and modernization of BOI for introducing the best international practices to provide conducive environment for investment.

In this regard, he added, that consultative committee has been formed which consists of senior officials of establishment division and BOI to review and execute the reconstruction plan of BOI on modern lines. He said that according to plan, BOI wanted to hire experts to deal with different sectors including legal, export, investment, SEZs and marketing and branding experts to enhance the capacity and modernization of the institution.

Shah Jahan said that experts for SEZs would be hired for initiating the projects to attract investment and provide conducive business environment.

“We are committed to facilitate the foreign investors in Special Economic Zones,” he said adding that three each SEZs would be established in Punjab, Sindh and one in Khyber Pakhtunkhwa.

The BOI Spokesman said that the federal government has identified 46 economic zones throughout the Country in different regions, adding that seven of the economic zones are approved.

The Spokesman said that nine prioritized industrial zones ha been proposed for high tech industry meant to enhance the export and employment opportunities to the people in the Country.

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