ISLAMABAD: The federal government has approved levies on services provided by the Board of Investment (BOI) to foreign investors in Pakistan and the launch of public-private sector dialogue (PPD).
These decisions were discussed in a meeting of the BOI Executive Committee, held on Thursday under the chairmanship of BOI Chairman Saleem H Mandviwalla.
The agenda of the meeting was to constitute a committee to facilitate BOI activities and launch the dialogue process. According to Mandviwalla, structured dialogue with the private sector is the backbone of an investment strategy for systematic cooperation between federal authorities and the private sector.
He added that the committee will develop target sectors, identify competitive investment projects and consult on policy initiatives for improving the investment climate as well as inspire a sense of co-ownership between public and private stakeholders.
In the meeting, it was decided that the committee would set up an advisory board for each sector and nominate a chairman for each of them. The designated personnel will be responsible to launch and steer the public-private sector dialogue.
The meeting also discussed the levy for business visas as well as branch and liaison offices in the country and decided to raise the amounts in order to better facilitate the investors. According to the revised rates, BOI will charge $3,000 for opening a new office and $1,000 for permit renewal.
Published in The Express Tribune, January 21st, 2011.
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