Body formed to promote foreign investment

Problems of investors to be resolved as Quarterly meetings of committee bridge the gap between investors<br /> and govt.

KARACHI: The Board of Investment (BoI) and Overseas Investors Chamber of Commerce and Industry (OICCI) have formed a committee which will work towards promoting foreign direct investment and resolving problems of investors.

This was decided during a visit of BoI Chairman Saleem H Mandviwalla to the OICCI recently where issues faced by foreign investors in Pakistan were discussed.

The meeting decided to strengthen engagement between the government and foreign investors by constituting a committee comprising representatives from the OICCI and BoI. The committee would hold regular quarterly meetings to bridge the gap between investors and the government and formulate measures after consulting both stakeholders.

The prime objective of the committee would be to highlight investor concerns and challenges and submit suggestions and recommendations to the BoI for implementation.

The economic situation of the country was also discussed with primary focus on issues hampering foreign direct investment. It was observed that law and order and energy crisis were major obstacles in the economic progress of the country.

Published in The Express Tribune, December 31^st, 2010.