BOI chief lauds Chinese investment in Pakistan’s services sector

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  • Chinese company Timesaco is launching five e-services in Pakistan, including ‘Buraq’ taxi service

ISLAMABAD: Board of Investment (BOI) Chairman and State Minister for Investment Zubair Gilani on Friday welcomed the Chinese investment of $20 million in the services sector of Pakistan.

“BOI is committed to supporting the foreign investors by ensuring the provision of all facilities to them,” he said during a meeting with Donald Li, Chief Executive Officer of the Chinese integrated services company ‘Timesaco’.

Both sides discussed in detail the government’s tax reforms and possible reliefs for foreign investors.

Gilani said the BOI was working on nine special economic zones (SEZs) under the China Pakistan Economic Corridor (CPEC) framework, where one window operation facility would be ensured to facilitate local and foreign inverters.

The state minister also assured of information technology-related facilities to the foreign investors. “IT has great potential and in the future, it will be the largest field in Pakistan,” he remarked.

He hailed Timesaco for launching six initiatives in the services sector of Pakistan, including the ‘Buraq’ taxi service.

On the occasion, Donald Li appreciated the role of BOI in providing guidelines and facilities to local and foreign investors.

He also appreciated the state minister for helping out investors in the speedy materialisation of their projects and also for enhancing Pakistan’s international competitiveness.

Talking about his company, he said ‘Timeseco’ was establishing an e-services platform in Pakistan.

Donald Li noted that there were many investment opportunities in Pakistan, especially in the IT-related sector, adding that his company intended to invest $20 million in the e-services sector of Pakistan.

“Timesaco wants to empower local investors to create a working environment, especially in the IT sector,” he remarked.

He said that his company offers five services in Pakistan, including a taxi service ‘Buraq’, instant delivery service ‘Fema’ and freight service ‘Cargo+’.

Initially, these services would be available in six big urban centres, namely Karachi, Lahore, Faisalabad, Rawalpindi, Islamabad and Peshawar, he added.

The Timesaco chief maintained that the company’s main objective was to provide the best possible services at affordable rates. “Timesaco offers lower prices and more care for customers.”

He informed that Buraq taxi service would be very different from other existing players and it would be more profitable for the drivers.

 

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