Dar seeks long-term plan for FDI boost

Finance Minister Ishaq Dar has directed the Chairman of the Board of Investment (BoI) to formulate a long-term plan to attract Foreign Direct Investment (FDI) in various sectors, as decline in investment is a serious concern for the government.
Dar on Wednesday held a meeting with BoI Chairman Miftah Ismail and Special Advisor to Prime Minister on Revenue, Haroon Akhtar Khan to review the measures to attract FDI and improve local investment in the country.
An official said the finance minister wants BoI to take advantage from various measures taken to move towards transparency and prepare a plan to attract investment. The minister directed the BoI to formulate a long-term investment plan for the country focusing on the sectors which have potential to absorb maximum investments and create more job opportunities in the country. He wants the plan to be submitted with him as soon as possible.
He asked the BoI to take input from the private sector to make the plan more inclusive and beneficial. The plan, later, will be presented to the Prime Minister for further consideration. Miftah Ismail briefed the minister on the current situation of the foreign direct investment in the country and steps being taken to make the country more attractive destination for investors, both foreign and local.
The chairman BoI said that as the country has been making progress on economic front, there is a need to put in place measures to ensure an enabling environment by enhancing the ease of doing business in the country. The meeting also discussed measures to boost exports of the country.
The finance minister said that the present government since its inception has promoted policies that can facilitate the investment, both foreign and local, in the country. "We have worked on improving transparency in operations and taken measures to build on the image of the country in the world at large; now our approach should be to reap the benefits of the changed perceptions," the finance minister said. The meeting was attended by senior officials of the ministry of finance as well.