Islamabad, May 01, 2013 (PPI-OT): Pakistan’s Investment policy is to actively seek foreign investment by offering a broad array of incentives to attract new capital inflows.
Mr. Maqbool H. H. Rahimtoola, Minister for Commerce, who is leading the Pakistan delegation at the Annual Investment Meeting (AIMS), said this during the Country presentation, says a press release received from Dubai.
The Minister pointed out that investment policy of Pakistan is very liberal and opens new vistas to local as well as foreign investors for investment in various sectors of economy so as to keep Pakistan competitive in international market and make it a viable place for foreign investment. The Minister said that Pakistan has a huge potential for foreign investors and we are trying to ensure maximum facilitation through our friendly investment policies.
The World Bank, he said, has ranked Pakistan No.3 in South Asia in comparison to other countries including India, Sri Lanka, and Bangladesh in “ease of doing business”. “This higher ranking indicate better and stronger regulation for business and better protection of property rights and it also highlights Pakistan’s openness for trade and investment,” he added.
He said confidence of the investors can be seen from the fact that the Karachi Stock Exchange has gone up by 394% since January 2009 to the close on this last Friday. “This increase is not speculative, it is based on the rate of return and growth displayed by these companies’ dividends and profits” he emphasized.
Chairman Sindh Board of Investment, Mr. Zubair Motiwala while making the Country presentation said that Pakistan offers the most liberal and consistent investment policies in the region. He made a comprehensive briefing on Investment policies, incentive package and tremendous potential available in the field of Oil and Gas, agriculture and Energy sector and highlighted the policy parameters which allow 100% foreign equity in the major sectors and full repatriation of profits and dividends in all the sectors.
“Abundant Land and Natural Resources, strong Human Resources, large and Growing Domestic Market, well established Infrastructure and Legal Systems and Strategic Location as a Regional Hub are some of the strong reasons for taking Pakistan into consideration by all those contemplating investment in this region” , he pointed out.
He invited the foreign investors to take full advantage of the immense opportunities in various sectors which promise a win win situation for them. He specially mentioned the power sector and assured that every MW of electricity produced will be bought by the government immediately to overcome the power shortage in the country.
The Minister congratulated the UAE on setting up the Annual Investment Meeting (“AIM”) and said this initiative will go a long way in bolstering trade relations, renewing reciprocal business commitments and igniting strategic investments from global investors towards high growth economies.
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