Govt to abol­ish loop­holes in busi­ness reg­u­la­tions: BoI

The Pak Banker - - FRONT PAGE -

Chair­man, Board of In­vest­ment Zubair Gi­lani Thurs­day said the gov­ern­ment was fo­cus­ing on bet­ter reg­u­la­tory ini­tia­tives to pro­mote busi­ness and in­vest­ment. He said that loop­holes in busi­ness laws and reg­u­la­tions would be abol­ished that would fa­cil­i­tate growth of busi­ness and in­vest­ment ac­tiv­i­ties in the coun­try.

He was ad­dress­ing busi­ness com­mu­nity dur­ing his visit to Is­lam­abad Cham­ber of Com­merce & In­dus­try.

Qasim Raza, Ad­di­tional Sec­re­tary, BoI was also present at the oc­ca­sion.

Zubair Gi­lani said that gov­ern­ment was in­ter­ested to pro­mote JVs in SEZs un­der CPEC.

He said the gov­ern­ment was de­ter­mined to ad­dress the key is­sues of in­dus­tries to boost in­dus­tri­al­iza­tion.

He said that en­abling the coun­try to stand on its own feed was the key pri­or­ity of the cur­rent gov­ern­ment and stressed that pri­vate sec­tor should play role to re­vive the con­cept of Made in Pak­istan.

He said that value ad­di­tion was key to im­prove the com­pet­i­tive­ness of ex­ports and stressed that pri­vate sec­tor should fo­cus on value ad­di­tion of prod­ucts.

He said that ICCI should point out ma­jor hur­dles in the way of in­vest­ment and give its pro­pos­als for in­vest­ment pro­mo­tion that would be given due con­sid­er­a­tion.

Speak­ing at the oc­ca­sion, Muham­mad Ahmed Wa­heed, Pres­i­dent, Is­lam­abad Cham­ber of Com­merce and In­dus­try (ICCI) urged the gov­ern­ment to pro­vide same in­cen­tives to ex­ist­ing in­dus­trial zones that were meant for SEZs.

He said that ICCI should be fully taken on board for the es­tab­lish­ment of ICT SEZ Z so that lo­cal in­vestors could get bet­ter op­por­tu­ni­ties of JVs and in­vest­ment.

He stressed the need for pro­vid­ing level play­ing field to lo­cal and for­eign in­vestors in SEZs in CPEC that would fa­cil­i­tate bet­ter growth of lo­cal in­dus­try.

He said that for­eign trade del­e­ga­tions dur­ing visit to Pak­istan of­ten visit ICCI and urged the Board of In­vest­ment to share in­vestor guides and in­for­ma­tion brochure with Cham­ber on reg­u­lar ba­sis so that vis­it­ing for­eign in­vestors could be thor­oughly briefed about po­ten­tial in­vest­ment op­por­tu­ni­ties in Pak­istan.

He urged the gov­ern­ment to for­mu­late more con­ducive poli­cies for pro­mot­ing pub­lic- pri­vate part­ner­ships in in­vest­ment projects.

Tahir Ab­basi, Se­nior Vice Pres­i­dent, Is­lam­abad Cham­ber of Com­merce and In­dus­try thanked Chair­man BoI for vis­it­ing ICCI .

He also hoped that BoI would give due con­sid­er­a­tion to the pro­pos­als given by the busi­ness com­mu­nity for growth of in­vest­ment in the coun­try.

Chair­man Founder Group Zubair Ahmed Ma­lik, Mian Akram Farid, Tariq Sadiq, Mian Shaukat Ma­sud, Muham­mad Ejaz Ab­basi, Za­far Bakhtawari, Zahid Maq­bool, Naeem Sid­diqui and oth­ers also spoke at the oc­ca­sion and gave use­ful pro­pos­als for in­vest­ment pro­mo­tion.

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