Shahbaz reviews proposals to reform PBIT : CM seeks work to attract investment

LAHORE:

More local and foreign investment is needed to strengthen the province’s economy, Chief Minister Shahbaz Sharif said on Sunday.

He was presiding over a meeting to review proposals for the re-organisation and reform of the Punjab Board of Investment and Trade (PBIT).

“It is the basic responsibility of the board to promote investment and strengthen the economy of the province. The board will have to perform its duties with hard work and innovation for the promotion of local and foreign investment in the province,” he said.

Shahbaz Sharif said that a clear roadmap was needed for achieving the targets for enhancing local and foreign investment. “PBIT officials should adopt a clear roadmap and ensure its implementation. A close contact should be maintained with concerned departments to achieve investment targets within the stipulated period,” he said.

The CM said that increased investment would enhance economic activities. “It will also create new job opportunities. The Punjab Board of Investment and Trade has to work in an active and vibrant manner for promoting investment,” he said.

The chief minister said that result-oriented steps were vital for promoting investment and providing facilities to local and foreign investors. “The investment board will have to give results in accordance with latest demands. There is vast scope for investment in various sectors in the province. The PBIT has to play its active role in promoting investment in agriculture, industry, livestock, energy and other sectors,” he said.

He said that the target set for private sector investment would have to be achieved at all cost by 2018.

PBIT Chief Executive Officer Amna Cheema briefed the meeting about the board’s ongoing activities. PBIT Chairman Abdul Basit and former PBIT chairman Pir Saad Ahsanud Din were also present.

Published in The Express Tribune, April 18^th,  2016.