PTI govt promises equal incentives for local, foreign investors in Pakistan

BOI chief Haroon Sharif says industrial policy will reduce cost of doing business

LAHORE: The government is striving to attract local as well as foreign investment with consistent policies and long-term measures for boosting exports and industrial production in the country, said Board of Investment (BOI) Chairman Haroon Sharif.

Addressing board members of the All Pakistan Business Forum (APBF), he apprised business leaders that Pakistan has been ensuring equal opportunities and incentives for local and foreign investors. He said that the government is formulating an industrial policy to reduce the cost of doing business and increase exports. He said the new policy, which the government would present within few months, would be industry-centric, and invited the input of industrialists in this regard.

Sharif urged APBF board members to discourage imports and promote industrial investment. He said that a comprehensive industrial policy will create an enabling environment for broad-based industrialisation and encourage innovation in a wide range of sectors.

The chairman was of the view that it was not possible for the textile sector alone to help Pakistan enhance its export proceeds significantly. Speaking on the occasion, APBF President Syed Maaz Mahmood said the forum is ready to work closely with the government to resolve industrial issues for the ease of doing business and to enhance exports and revive growth momentum.

Mahmood elaborated that there was a great potential for export of Pakistan goods, which was not being utilised. He suggested to the government that the focus of its new policies should be on offering long-term predictable incentives to investors and promote exports from the country.

The board members said that the government should also facilitate export-oriented industries by resolving their genuine issues like delay in refunds.

Published in The Express Tribune, March 19^th, 2019.

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