Govt to abolish loopholes in business regulations: BoI

• Zubair Gilani says government is focusing on better regulatory initiatives to promote business and investment.
• Gilani says loopholes in business laws and regulations will be abolished.

ISLAMABAD: Chairman, Board of Investment Zubair Gilani Thursday said the government was focusing on better regulatory initiatives to promote business and investment.

He said that loopholes in business laws and regulations would be abolished that would facilitate growth of business and investment activities in the country.

He was addressing business community during his visit to Islamabad Chamber of Commerce & Industry.

Qasim Raza, Additional Secretary, BoI was also present at the occasion.

Zubair Gilani said that government was interested to promote JVs in SEZs under CPEC.

He said the government was determined to address the key issues of industries to boost industrialization.

He said that enabling the country to stand on its own feed was the key priority of the current government and stressed that private sector should play role to revive the concept of Made in Pakistan.

He said that value addition was key to improve the competitiveness of exports and stressed that private sector should focus on value addition of products.

He said that ICCI should point out major hurdles in the way of investment and give its proposals for investment promotion that would be given due consideration.

Speaking at the occasion, Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry (ICCI) urged the government to provide same incentives to existing industrial zones that were meant for SEZs.

He said that ICCI should be fully taken on board for the establishment of ICT SEZ Z so that local investors could get better opportunities of JVs and investment.

He stressed the need for providing level playing field to local and foreign investors in SEZs in CPEC that would facilitate better growth of local industry.

He said that foreign trade delegations during visit to Pakistan often visit ICCI and urged the Board of Investment to share investor guides and information brochure with Chamber on regular basis so that visiting foreign investors could be thoroughly briefed about potential investment opportunities in Pakistan.

He urged the government to formulate more conducive policies for promoting public-private partnerships in investment projects.

Tahir Abbasi, Senior Vice President, Islamabad Chamber of Commerce and Industry thanked Chairman BoI for visiting ICCI .

He also hoped that BoI would give due consideration to the proposals given by the business community for growth of investment in the country.

Chairman Founder Group Zubair Ahmed Malik, Mian Akram Farid, Tariq Sadiq, Mian Shaukat Masud, Muhammad Ejaz Abbasi, Zafar Bakhtawari, Zahid Maqbool, Naeem Siddiqui and others also spoke at the occasion and gave useful proposals for investment promotion.