ISLAMABAD: Zafer Calayan, Minister of Economy, Republic of Turkey called on Minister of State/Chairman Board of Investment (BOI) Saleem H. Mandviwalla here on Monday and discussed the interests of the Turkish companies for investment in Pakistan.
Turkey has an amount of $110 billion of FDI from the period 2003-2011.
Various Turkish companies are interested for investment in Pakistan in the fields of mass transportation and solid waste management.
The companies involved in solid waste management for cities like Lahore are Albayrak Company and Ozkartallar & Compak Joint Venture, who are requesting the Pakistani authorities to reduce the tax duties for environmental projects, says a statement issued by the BOI here.
The MOS/Chairman BOI, confirmed the Turkish delegation that the customs tarrifs would be reduced in the budget of 2012-13 and it would continue to be reduced in the coming years gradually.
Talking about the issue of Karkey company's powership project, the MOS/Chairman informed the Turkish minister that the company's ships are not confiscated but are being held till the issue moves towards its settlement through the Supreme Court of Pakistan.
The Turkish minister also showed interest in the Trailor Purchasing Tender issued by the Karachi Port Authority, and requested for the kind support of MOS/Chairman BOI for the realization of this project by the Turkish companies.
Regarding investment opportunities in the telecommunications sector, the Turkish company Kron Telecommunication Technologies Company undertook a joint project by the name of "Remote Broadband Management System Software Project" with PTCL.
The project's value is $1 million. The company wants to establish its corporation in Islamabad.
The Turkish minister also offered the proposal of Pakistani/Turkish companies to join hands and do business in the third countries.
The Turkish minister assured the Pakistani side of their cooperation in every field imaginable as the two countries share common grounds.
The MOS/Chairman endorsed this view and welcomed more diversified investment in Pakistan to boost its economy.
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