PIBC for overseas Pakistanis to invest in energy, housing sectors

LAHORE: Pak India Business Council (PIBC) urged the government on Monday to provide incentives to overseas Pakistanis for investment in energy and housing sectors to ease energy crisis and overcome shortfall of houses in the country.The demand was raised in executive council meeting of PIBC, said its chairman Noor Muhammad Kasuri in a press statement issued after the meeting .

He said the country direly needed investment in energy and housing sectors and overseas Pakistanis could be helpful in this regard. He also urged the government to focus on promotion of regional trade.

He said that enhancement of share of regional trade upto 25% of the total trade of the country was part of the trade-policy 2010-12 but the government had not so far introduced any practical step towards it, which is a matter of concern.

Highlighting benefits of the regional trade and other positive steps suggested in the trade-policy, he demanded the government to implement trade-policy 2010-12 in letter and spirit.

He also stressed the need for better coordination between the government and big business houses in the country and suggested the government to take the business and financial institutions into confidence for ensuring balanced economic growth.

The PIBC chairman also demanded the government to set up manufacturing units of cement, ghee, sugar and other such sectors to control monopolies of private sector to control extraordinary prices of essential goods.

Copyright APP (Associated Press of Pakistan), 2011