Report called in 10 days: PM orders removal of impediments to inward FDI flows

ISLAMABAD: Prime Minister Shehbaz Sharif has directed for removal of all the hindrances in foreign investment immediately and sought a report in this regard with recommendations in 10 days.

The Prime Minister Monday chaired a meeting on foreign investment and set up a committee to solve the problems of foreign investment companies, especially, companies investing in Gwadar Free Zone.

He directed that the Chinese investment companies should be provided facilities on a priority basis and all obstacles in obtaining visas for Chinese workers should be resolved immediately besides visa procedures should be simplified and accelerated by removing the distinction between CPEC visas and visas of other companies in the visas of Chinese workers.

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The premier was informed about the companies showing interest in making an investment of US$ 10 billion in energy, infrastructure, railways, port infrastructure, and other projects.

According to the Prime Minister’s Office, the meeting was further informed that an investment of US$1 to 2 billion is expected immediately in the first phase and projects being initiated will not only create more than 45,000 employment opportunities but also improve Pakistan’s ease of doing business index.

The prime minister immediately issued instructions to the Board of Investment (BOI), the Ministry of Planning, and the Ministry of Finance to prepare a comprehensive plan for these projects with mutual cooperation.

The meeting was attended by federal ministers Miftah Ismail, Chaudhry Salik Hussain, Ahsan Iqbal, special assistants Tariq Fatemi, Zafaruddin Mahmood and relevant senior officials.

Copyright Business Recorder, 2022