The Punjab government has appointed Dr Miftah Ismail as the new Vice-Chairman of the Punjab Board of Investment and Trade (PBIT). Dr Ismail has a Ph.D in Public Finance and Political Economy from the Wharton School, University of Pennsylvania. He has previously worked at the IMF in Washington, DC.
Dr Ismail is an industrialist whose business interests include confectionery, biscuits, plastics and financial services. He aims to be a bridge between the business community and the government, trying to encourage and facilitate local and foreign businessmen to invest in Punjab.
At his appointment Dr Miftah Ismail said that Punjab offers some of the most lucrative and low- risk opportunities for investors in Asia, especially in the fields of energy, agriculture, livestock and dairy, mines and minerals and tourism. "I am, therefore, looking forward to working with the professional and enthusiastic team at PBIT in delivering on Chief Minister Shahbaz Sharif's vision", he added.
PBIT has been functioning as an investment promotion agency of the Punjab government since 2009 and has had many successes during short tenure. It was previously led by two very dynamic private sector professionals, Rizwanullah Khan and before him Pir Saad Ahsanuddin. Chief Minister Shahbaz Sharif is himself the Chairman of PBIT, and his vision for PBIT is to attract private sector investments from across the world into Punjab. Punjab needs rapid industrialisation and huge investments to transform its young and energetic population into the workforce. The provincial government is offering a very pro-business environment and a positive policy framework to generate foreign and domestic investment and employment.
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