According to a Business Recorder news item, the Auditor General of Pakistan (AGP) has shown serious concerns over the poor performance of the Board of Investment (BoI) during the ongoing tenure of the present government. The AGP has pointed out that BoI has miserably failed to attract Foreign Direct Investment (FDI) to the country. The AGP office has also observed that Pakistan’s FDI inflows in terms of quantum of investment remained low as compared to previous years (from 2015 to 2018) which shows a decline in the performance of BoI.
In my view, however, the major reason behind BoI’s seemingly woeful performance is its failure to articulate the right policy aimed at promoting, encouraging and facilitating both local and foreign investment. It must work harder to translate the guiding principles of the 2013 Investment Policy into reality. It is quite clear that BoI has made no serious effort to create a conducive environment to attract investment.
Shabnam Khan (Islamabad)
Copyright Business Recorder, 2021
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