Finally, Overseas Investors Chamber of Commerce and Industry (OCCI) representatives have shared their concerns, expectations, future plans, solutions of economic and sectoral challenges with the Prime Minister Imran Khan.
According to media reports, Shazad Dada, President OICCI has said policies exist but substantial delays are witnessed in implementations of those policies which shatter the confidence of investors, adding that there is a need to address the gap between policies and implementation. He reportedly told the Prime Minister that "OICCI is the largest chamber of commerce in Pakistan based on economic contribution and has always been in the forefront as an FDI ambassador of Pakistan."
The point raised by him makes greater sense because there are several impediments to Foreign Direct Investment (FDI) in Pakistan. It is quite true that policy implementation is often hamstrung by bureaucratic red-tape. Moreover, factors affecting FDI include lack of political stability, transport infrastructure wage and tax rate. Developments such as the sudden exit of Board of Investment (BOI) chairman a couple of days ago do not add to foreign investor's confidence. It is about time the prime minister took some concrete steps aimed at redressing the grievances of OICCI representatives as the organization that they represent has been effectively playing the role of country's FDI ambassador.
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