LAHORE: Board of Investment (BOI) Chairman Haroon Sharif on Monday said the government was striving to attract local as well as foreign investment with consistent policies and long-term measures for boosting exports and industrial production in the country.
Addressing the board members of All Pakistan Business Forum (APBF) here at a local hotel, he said that Pakistan had been ensuring equal opportunities and incentives for local and foreign investors.
The government was formulating an industrial policy to reduce the cost of doing business and increase exports, he said, asserting that new industrial policy would be industry-centric.
He also invited the input of industrialists in this regard.
He spoke at length about the proposed industrial policy and its impact to encourage exports from the country, and urged the APBF Board members to discourage imports and promote industrial investment.
A comprehensive industrial policy would create an enabling environment for broad-based industrialization and encourage innovation in a wide range of sectors.
Haroon Sharif said that with trade and investment being an important pillar of the government's foreign policy, there was a positive sentiment among the international community towards Pakistan's economy, which needed to be capitalized.
On this occasion, APBF President Syed Maaz Mahmood assured that APBF was ready to work closely with government to resolve industrial issues for ease of doing business and to enhance exports and revive growth momentum.
He also briefed the BOI Chairman about the role of APBF and its various investment conferences to highlight Pakistan's economic potential before global community.
Maaz Mahmood elaborated that there was great potential for exports of Pakistani goods and urged the government to focus its new policies to offer long-term predictable incentives for investors and promote exports from the country.
While, the APBF Board members said that Pakistan was a resource-rich country and did not need any external financial help, adding that market and products diversification was the best method to boost exports.
They said that Pakistani exports always remained dependent on a few items and countries, and urged the government to task Pakistani missions abroad with finding new destinations.
They said that government should also facilitate export-oriented industries by resolving their genuine issues like delay in refunds.
The Board members also stressed on taking advantage of the beautiful landscapes in the country to promote tourism industry. Keeping in view of changing global scenario, the government's immediate economic planning and its implementation was a must to avert any serious challenge.
The meeting was also addressed by APBF General Secretary Khurram Niyaz, besides the managing committee members, belonging to various industrial sectors of the country.
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