Board of Investment (BoI) Chairman Wasim Haqqie said on Thursday that the figure of Foreign Direct Investment (FDI) might cross US 1.1 billion dollars record of the past at the end of this fiscal year. Speaking at a PTV programme, he said 1.03 dollars FDI had been registered so far during 11 months, while at the end of year that figure was expected to raise beyond 1.1 billion dollars.
Haqqie said in past the highest figure of the FDI was recorded during year 1995-96, a bulk of which was invested in enemy sector, adding the upward trends in the FDI started as a result of bold economic policies by the government during past few years.
In year 2002, the FDI figure was 485 million dollars, which climbed to 798 dollars in 2003. Last year, this figure went further up to a level of 950 million dollars, he said, adding the past records were expected to be crossed at the end of this year. He said the gradual growing trends in the FDI spoke the success story of the government's economic policies on one hand and conducive investment atmosphere in the country on the other.
To a question, he said few years back the domestic industry was working on 50 to 60 percent production capacity. Presently, the domestic industry after achieving 100 percent production capacity was on the pace of rapid expansion, he added. New factories were being installed all across the country vis-a-vis growing demand of all industrial products, he said.
He said about 140 delegations of investors had visited the country during that period from 40 to 45 countries and their flow was increasing constantly. It was the picture of starting point where the policies had just started to yield results, he said, adding the prospects for the future were even brighter.
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