‘Government making efforts to boost foreign investment’

The government is taking pragmatic steps to drive foreign investment in the country, said Adviser to Prime Minister on Overseas Pakistanis and Human Resource Development (OPHRD) Muhammad Ayub Afridi.

Speaking to the business community at the Sarhad Chamber of Commerce and Industry (SCCI) on Saturday, he assured the traders of resolving their issues related to Employees Old Age Benefit Institute (EOBI) and Working Welfare Board (WWB).

During the meeting, both sides agreed to form a joint committee to sort out practical and viable solutions for the issues pertaining to the Employees Old Age Benefit Institution (EOBI) and Workers Welfare Board as well as overseas Pakistani investors.

The body would consist representatives from relevant government departments and members of the Sarhad Chamber of Commerce and Industry.

Afridi said that relevant laws had been amended to bound courts and legal forums to issue the verdict of cases pertaining to EOBI and WWB within a period of 180 days.

Reiterating that the government was eager to resolve the issues of investors and overseas Pakistanis, he said that problems related to illegal occupation of expatiates’ lands would be dealt by the courts within 180 days.

The prime minister’s aide informed the businessmen that the government had sanctioned provision of Rs300,000 interest-free loans to overseas Pakistanis which would be paid back through installments in three years’ time.

He stressed upon relevant institutions and chambers to make joint efforts to devise solutions for the issues faced by the business community. According to him, it would remove the trust deficit among the departments and create business friendly environment in Pakistan.

The adviser disclosed that a comprehensive system and proper mechanism would be introduced soon according to which, the data of factory owners and their workers would be digitised in order to resolve their issues promptly.

“The government has honoured overseas Pakistanis with awards and given them due respect because they have made enormous contributions to the development of the national economy,” he said.

In order to avoid unnecessary inquiries, arrests, litigation and court cases, Afridi demanded close collaboration between the relevant government departments, business community and stakeholders.

Speaking on the occasion, SCCI President Hasnain Khurshid highlighted the issues of businessmen related to EOBI and Workers Welfare Board.

Requesting a uniform system, he said that rates for factory employees should be enforced as per their contribution to the Workers Welfare Fund.

On the occasion, he raised the issues of growing lawlessness and poor security arrangements in the industrial estate at Hayatabad, Peshawar.

The SCCI chief urged the government to announce a special fiscal relief package for terrorism and Covid-19 hit business community of Khyber Pakhtunkhwa.

SCCI Senior Vice President Imran Khan Mohmand, former presidents Malik Niaz Ahmad, Riaz Arshad, Zahidullah Shinwari, Faiz Muhammad Faizi, EOBI Director General Zulfiqar Ali and Regional Head Ashfaq Muhmood were present.

Published in The Express Tribune, March 6^th, 2022.

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