Business

Investing in Pakistan: Philip Morris to bring in $100m

Pakistan has one of the most liberal foreign investment regimes in South Asia

APP August 19, 2015

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 19^th, 2015.

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COMMENTS (1)

Atif | 9 years ago | Reply This is the wrong type on investment. we need investment in industrial development like our automotive and engineering sectors which are lagging behind technologically and in terms of quality. This kind of investment harms healthcare in the country in the long run. Also statistics have shown the HEALTHCARE costs far exceed the investment of the tobacco companies. In a nutshell tobacco industry has devastating effects on pubic health and is response for huge number of deaths even. There should be heavier taxes and anti smoking campaigns. We are attracting the wrong kind of FDI.

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