Tariff regime to be rationalised to woo investors: CCoI meeting to be held every quarter

Prime Minister Yousuf Raza Gilani presided over a meeting of the Cabinet Committee on Investment (CCoI) on Tuesday. The meeting was attended by Minister for Finance Dr Abdul Hafeez Sheikh, Minister for Petroleum and Natural Resources Dr Asim Hussain, Minister for Privatisation, Chairman of FBR, Chairman, Board of Investment, and the senior officials of the Planning Commission, Ministries of Finance and Industries.
The meeting decided to rationalise the tariff regime in a way so as to attract foreign investment in the country, so important to accelerate the process of national development. It was decided that the meeting of the Cabinet Committee on Investment would be held quarterly to review the investment policy with a view to attracting foreign investment by convincing the potential foreign investors that Pakistan is the best destination to do business.
It was also decided that utmost endeavours would be put in place to enhance the capacity of BoI so that it could promptly respond to the emerging challenges and capitalise on the opportunities in the investment sector while keeping in view the imperatives of the country''s economy.
It was also decided that individual cases for tariff exemptions be brought up only after examining the linkages and implications for other segments of the industry. The meeting also discussed matters pertaining to import of CNG buses and setting up of motorcycle factory in Pakistan along with transfer of technology.
The Prime Minister referred the matter to the Committee headed by Deputy Chairman of Planning Commission to decide the matter in a way so as to facilitate foreign investment in the country. Other members of the committee were Secretaries of the Ministries of Finance, Industry, BOI, Commerce and Chairman of FBR.-PR