100% foreign equity is permitted in manufacturing and infrastructure sectors as the country has a market-oriented economy. STOCK IMAGE
ISLAMABAD:
Philip Morris Pakistan Limited, a leading tobacco manufacturing company, is planning to bring in an additional investment of $100 million. A delegation, led by Director Finance Joseph Ziomek and Director Corporate Affairs SekarMenon, visited the Board of Investment and met with its chairman Dr Miftah Ismail.
They also discussed different investment opportunities available in Pakistan and issues faced by Philip Morris Pakistan, said a statement. Ismail welcomed the delegation and informed them that Pakistan has one of the most liberal foreign investment regimes in South Asia.
He said 100% foreign equity is permitted in manufacturing and infrastructure sectors as the country has a market-oriented economy, with a rapidly growing private sector.
Ismail thanked the delegation and assured that BoI, being the apex body of the government for investment promotion and facilitation, will offer its full support.
Published in The Express Tribune, August 19th, 2015.
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