RAWALPINDI: State Minister and Chairman Board of Investment (BoI) Dr. Miftah Ismail has said that Special Economic Zones (SEZs) will be established in Rawalpindi and other parts of the country to promote industrial activities and special tax relief will be offered for SEZs to endorse foreign investment. He said that legal embargos of old SEZs bill are being finalized.
He said that ratio of foreign direct investment in the country is mere 4 percent of total investment and country’s current investment is 14 percent of its GDP and government is committed to enhance this ratio to 20 percent of GDP. He was exchanging these views with the President Rawalpindi Chamber of Commerce and Industry (RCCI) Syed Asad Mashadi during his visit to Chamber on Thursday. Vice President Saboor Malik, Former President Jawed Akhtar Bhatti and other members of the Chamber were also present on the occasion.
Miftah said that BoI prime goal is to promote foreign direct investment and Special Economic Zone will help a lot in this regard. He was of the view that for the endorsement of investment in the country; economic policies must be made constant to develop trust of the investors. He further said that RCCI is playing vital role in the uplift of the business activities in and outside of the country. He also appreciated the RCCI step for organizing single country Expos in the different countries.
Speaking on the occasion President RCCI Syed Asad Mashadi said business community can bring the country out of crisis but government must facilitate the said community in this regard. He said that business community is facing immense problems regarding taxation and other issues related to finance ministry but Minister Ishaq Dar is too busy in political affairs to spare some time for the community. He urged the State Minister to play his role in this regard. Mashadi said that government must focus on trade with Afghanistan and Central Asian States to promote exports of the country.
