ISLAMABAD: Pakistan is emerging as the ideal state for the world investors as the country enjoying stabilised economy, improved law & order situation due to the government’s policies.
This was stated by President Mamnoon Hussain, while addressing a round-table conference under the title of ‘Pakistan, a paradise for investment’, jointly organised by Board of Investment (BOI) and Pakistan Observer group here at a local hotel. The event was attended by ambassadors, corporate leaders and businessmen.
The President said that Pakistan, with its strategic location and having proximity to Central Asian and oil-rich Gulf states was a premier trade, energy and transport corridor. He said there existed immense opportunities for investors to reap rich dividends from a country that offered a liberal investment environment.
Mamnoon said the government had succeeded in stabilising the economy which was evident from the indicators relating to growth, stock exchange, inflation and foreign exchange reserves. He said also, discretionary grants had been abolished and subsidies had been minimized, which he said would ensure an enabling environment for investment.
The President said Pakistan was offering several facilities to foreign investors including tax exemption for 10 years and establishment of Special Economic Zones. He expressed confidence that the positive trends in socio-economic condition of the country would add to the comfort of investors.
He said globally, economics had now taken a priority over politics and urged upon the businessmen and investors to support the vision of the government to achieve the status of a strong and stable Pakistan.
President Mamnoon mentioned that the completion of China Pakistan Economic Corridor (CPEC) and its related projects would usher in a new era of prosperity in the region. He said Corridor would not only provide investment opportunities but would also reduce the electricity shortfall in Pakistan by 2018 due to launch of several energy-producing projects.
Chinese Ambassador to Pakistan Sun Weidong thanked President Mamnoon for his recent visit to China to express solidarity on the 70th anniversary of its victory in Second World War. He said it was heartening that environment in Pakistan was continuously improving and was emerging as the favoured destination for investors.
BOI Chairman Miftah Ismail said BOI was streamlining the procedure of taxes to facilitate the businessmen to deal with minimum tax collecting agencies. He said all sectors of economy were open to foreign investors, besides 100 percent equity and repatriation of profit was allowed. Secretary BOI Syed Iftikhar Hussain Babar said promotion of investment needed to be a national agenda.
