ISLAMABAD: The Pakistan Business Council (PBC) organised a launch event for its recently published report titled ‘Catalysing Private Investment in Pakistan: Leveraging the CPEC Opportunity’.
The event was attended by Ahsan Iqbal Chaudhary, Federal Minister for Planning, Development & Special Initiatives (PD&SI), Jamil Ahmad Qureshi, DG Investment Promotion Board of Investment, Yang Jianduo, Chairman, All Pakistan Chinese Enterprises' Association (APCEA) and representatives from the relevant government and private sector organisations.
Ehsan Malik, Chief Executive Officer PBC welcomed the guests, followed by a presentation on key findings from the study by Sakib Sherani, who authored the study.
The study discusses Pakistan’s investment performance and attractiveness for FDI with respect to law and order, fiscal policy, labour productivity, infrastructure, energy, logistics and market access. It also includes a section on issues faced by Chinese investors in Pakistan.
The study recommends simplification of the regulatory procedures, consistent and equitable tax policies, provision of energy at a competitive cost and timely settlement of dues. For this Pakistan needs to formulate a comprehensive roadmap of institutional and structural reforms.
In addition, Pakistan’s FDI strategy needs to focus more sharply on exports, advanced manufacturing, value-added agriculture, and electronics, among others. It also includes a regional comparative which shows scope for significant improvement in most parameters and ascribes this as the reason for hesitancy of the Chinese private sector to relocate labour-intensive manufacturing to Pakistan.
Appreciating PBC’s efforts to publish this report, Minister Ahsan Iqbal said that a “whole-of-government” consistent approach in a stable political environment is necessary to promote any investment but especially FDI. He supported the need for export-oriented investment and sought active support from the PBC to shape policies to achieve this.
Jianduo thanked PBC for collaborating with APCEA to document the issues faced by the Chinese investors. He further stated that through regular interaction between the private sectors of the two countries, better understanding would emerge and that his organization looked to PBC to facilitate it.
Jamil Ahmed Qureshi added that the BOI is progressing well on a single-window investment facilitation system and had found PBC’s recommendations constructive and practical.
Ehsan Malik closed the event by giving a vote of thanks to the guests and assured PBC’s support to identify gaps in the policy space, propose remedial steps and facilitate closer interaction between local and foreign investors in line with its Make-in-Pakistan thrust.
Copyright Business Recorder, 2022