Board of Investment (BOI) in collaboration with Sindh Board of Investment (SBOI) is preparing comprehensive investment projects. Director General, BOI, Nasreen Ali informed the business community during a meeting of Korangi Association of Trade and Industry (KATI) held here on Tuesday. Nasreen Ali emphasised the need of investment in those projects, which can create more jobs to absorb larger number of unemployed youth.
The DG noted that in recent past large investment was made in fast food and shopping malls, which has created few employment opportunities. She further said that BOI is playing its vital role to guide investors as in which sector they should invest to get better return on their investments and also make them aware about available investment opportunities in the country.
The DG said that BOI is giving top priority to facilitate local investors, as their investment would help attract foreign investors as well. Responding to a question, Nasreen Ali admitted that due to security reason not only foreign investors are unwilling to invest, but also the local investors are hesitate to make investment.
The DG was of the view that Pakistan can attract huge number of investors, both local and foreign, if we succeeded in controlling cost of production. The DG also admitted that cost of manufacturing in Pakistan is on higher side and it has negative impact on local manufacturing sector.
Nasreen informed that German investors are visiting Pakistan to examine possibility of investment in wind power sector whereas the government has prepared investment policy to generate 10 MW solar power. Senator Abdul Haseeb Khan said that industries are gradually closing down across the country, adding that neither Federation of Pakistan Chambers of Commerce and Industry (FPCCI) nor are other chambers playing their due role to pressure the government to act fast and do something to keep industries operative. He said that these trade bodies have also failed to suggest the government to take practicable measures to bring down the cost of production and doing business.
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