ISLAMABAD: The Board of Investment (BOI) has launched on its website a portal for “investment opportunities in the housing sector of Pakistan”, with an objective to facilitate foreign companies interested in making investments in the low-cost housing sector by providing them with an effective one-stop-shop solution.
A simple ceremony in this regard was organised at the Board of Investment, where BOI Chairman Atif R Bokhari, Naya Pakistan Housing and Development Authority (NPHDA) Chairman Lt General Anwar Ali Haider, BOI secretary and other senior officers were also present, according to a statement issued by the board on Friday.
In his opening remarks, Atif Bokhari termed the portal “a landmark project” of the government and appreciated the support provided by the NPHDA team to BOI, enabling them to work in close coordination and develop the portal in accordance with NPHDA requirements.
BOI Executive Director General (EDG) Mukarram Jah Ansari on the occasion made a brief presentation about the portal, saying that BOI envisions “making it easier for interested businessmen to collect all the required information as well as go through the registration processes without any hassle”.
The EDG also demonstrated how the portal would link foreign investors with all relevant government organizations at federal and provincial levels, including BOI, for work visas and other services; Ministry of Interior for overall visa procedures; State Bank of Pakistan for relevant rules and regulations for foreign investors; Securities and Exchange Commission of Pakistan for company registration; Federal Board of Revenue for tax registration, and Pakistan Engineering Council for required certifications.
He further highlighted that the incentives given to the investors in the housing and construction sector, as well as other relevant information from federal as well as provincial departments, have been made available under the portal.
It may be noted that the incumbent government had accorded the status of ‘industry’ to the construction/housing sector with a plan to construct 5 million low-cost housing units over the next five years. A special organization called ‘Naya Pakistan Housing and Development Authority’ was also established in this regard.
BOI was assigned the responsibility to act as a focal point of contact, linked through a ‘portal’ with various relevant ministries and organizations, for the assistance of foreign companies and businessmen.