ISLAMABAD: Prime Minister Imran Khan Friday directed the Board of Investment (BoI) chairman to harmonize the business-related laws enforced at the center and the provinces within a month.
Chairing a meeting of the BoI’s Board of Directors here, the prime minister also directed to ease the business-related laws in light of the Board's recommendations to remove unnecessary conditions.
The meeting was attended by Minister for Energy Omar Ayub Khan, Advisor on Finance Dr Abdul Hafeez Sheikh, Advisor on Commerce Abdul Razzak Dawood, BoI Chairman Zubair Gillani, Dr Salman Shah, Dr Shamshad Akhtar, Ahmer Bilal Sufi and others. The meeting discussed the measures to promote local and foreign investment, remove impediments, establishment of special economic zones, facilitation of the industrial sector and the business community at the federal and provincial levels. The BOI chairman presented to the prime minister the first draft of the proposed new strategy for 2020-2024 on investment that would be finalized in accordance with the suggestions by the board members.
The prime minister was apprised that the BOI had initiated the process to bring harmony among various federal and provincial laws related to the business sector.
It was told that the BOI was also mulling over the laws concerning the special economic zones to make them business friendly. The prime minister said it was among the government’s priorities to encourage and facilitate the investors.
He viewed that the disharmony among the federal and provincial laws, unnecessary regulations for the business, sadist tendency in relevant government institutions and corrupt practices had created trouble for the business community that had also stagnated the industrial development.
He said the government was taking full advantage of a huge number of the young population, low-cost workforce, and the government’s liberal investment policies, which were providing a conducive atmosphere for the investment.
Comments
Comments are closed.