The overall profile of foreign investment has improved from $969.5 million (July-February 2009-10) to $1231.7 million (July-February 2010-11). Minister for Information and Broadcasting Dr Firdous Ashiq Awan said this while replying to a supplementary question in National Assembly during questions hour that total $969.5 million foreign investment came into the country during last six to eight months.
In this regard, she said that during this period, China invested the most, while Turkey, Malaysia and other foreign countries also contributed to investment in Pakistan. She said that most of foreign inventors have invested in oil of power sectors. She said that an amount of $325.7 million has been invested in oil sector during last six months.
She said that foreign investors have invested in IPPs, hydel projects, windmills and telecom industries. She said that conducive environment, peace and political stability are necessary to attract foreign investment. She said that for this purpose, the government is taking many measures to increase foreign investments in the country. She said that the government is supporting the investors for importing machinery and Ministry of Commerce is playing an important role in this regard.
The Minister said that Pakistan offers a liberal investment policy which contains incentives for all investors across the board including overseas Pakistanis. Investment policy is based on the principle of fair and equal treatment for all investors. She said that overseas Pakistanis and business tycoons settled abroad also have equal opportunities to invest in their motherland.
She said that the Special Economic Zones (SEZs) policy framework has been approved by the Cabinet and it is based on 10 & 5 years income tax exemption for zone developers and investors respectively with duty-free import of plant and machinery. She added that the Special Economic Zones (SEZs) Bill, approved by the Cabinet in May 2010, is under consideration of the Council of Common Interests (CCI).
Comments
Comments are closed.