Balochistan Investment Board: Body without CEO since establishment

Board formed last fiscal year to attract foreign investment.

QUETTA:

The Balochistan government has failed to appoint a chief executive officer of Balochistan Board of Investment despite a lapse of more than a year, creating a hurdle in attracting foreign investors.

The establishment of the board was announced in financial year 2011 budget, however, no concrete development has been made since.

Meanwhile, government’s funding increased 50% to Rs12 billion for the board in the ongoing fiscal year against Rs8 billion earmarked in its first year.

The investment board was formed last year with an aim to lure foreign investors and get them engaged in Balochistan, a senior official of the provincial government said.

Balochistan has an abundance of natural resources but remains untouched since foreign investors are not provided any proper mechanism to initiate any mega project.

Balochistan government allocated Rs4 billion for establishment of Balochistan Energy Board in order to overcome the power crisis in the province, according to the senior official. The government had so far not established the structure of investment board that can give a policy about the investment, the officer said adding that government has also planned to set up a refinery for separating gold from copper.

Balochistan has immense potential for generating power from alternative sources like wind and solar. However, it needs proper investment as the establishment cost is high, said Balochistan Alternate Energy Board official Mohammad Yasir.

Published in The Express Tribune, November 3^rd, 2011.