Govt working on ease of business regulatory laws: Chairman BoI

ISLAMABAD: Chairman, Board of Investment Zubair Gilani on Wednesday said the government was working to ease existing business regulatory laws for better investment promotion in the country.

He said that loopholes in business laws and regulations would be plugged that would facilitate the growth of business and investment in the country. He was addressing the business community during his visit to Islamabad Chamber of Commerce & Industry (ICCI).

Qasim Raza, Additional Secretary, BoI, was also present at the occasion. Zubair Gilani said that 21 Special Economic Zones (SEZs) have been planned and government was interested to promote joint ventures in these zones.

He said that government was determined to address key issues of industrial sector in order to promote industrialization.

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He said that the government was working to enable the country to stand on its own feet instead of depending on foreign aid and stressed that private sector should cooperate in reviving the concept of Made in Pakistan.

He said that value addition of products was vital to improve competitiveness of exports in international market and stressed that private sector should focus on value addition.

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

Speaking at the occasion, Muhammad Ahmed Waheed, President ICCI, urged the government to provide same incentives to existing industrial zones that were meant for SEZs under the China Pakistan Economic Corridor (CPEC).

He said that initially 9 SEZs would be setup in Pakistan in the industrial cooperation phase of CPEC and stressed that government should provide level playing field to local and foreign investors in these SEZs that would facilitate better growth of local industry.

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

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

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