Investment moot gets positive response

As a result of a successful investment campaign, 620 domestic and foreign investors participated in a two-day-long international investment conference hosted by Board of Investment (BoI) which concluded here on Thursday. In a joint press conference, Dr Miftah Ismail, the chairman Board of Investment (BoI), said that 235 Pakistani businessmen living abroad registered themselves for participating in the international conference.
As many as 385 local businessmen participated in the event, he added, total 620 local and foreign investors participated in the investment conference. He stressed that Pakistan is successfully campaigning about the investment opportunities available for foreign investors in Pakistan, adding as a result of this campaign, a number of companies visited Pakistan in the last two years and showed their interest in investment here.
Quoting some of the ''success'' stories, he said representatives of General Electric Company informed the government that they would invest $50 million in Pakistan. Another company also showed interest in localisation of locomotives in the country.
Shell Petroleum has shown keen interest in building infrastructure and import of LNG. Last year, he said that a South Korean company started investing in power sector project. Similarly, Coca Cola Company has planned to invest $350 million here, he added. Responding to a one-window operation, he said that there is no concept of one-window operation in the world. The company has to meet provincial government''s rules and regulations in case it plans to launch project in the province. The Board of Investment could facilitate investors in getting permission from various departments through its offices in the province.
Earlier, addressing the conference, Minister of State for Privatisation Muhmmad Zubair revealed that the government has planned to generate $4.5 billion through privatising more than 12 public sector entities during the current fiscal year. He said that there were huge opportunities of investment in Pakistan as the government had planned to privatise OGDCL in November, Allied Bank Limited in December, Habib Bank Limited in March next year, and LESCO, IESCO and FESCO in June next year, while privatisation of Pakistan International Airlines (PIA) and Pakistan Steel Mills would take place in October next year.