National Assembly (NA) standing committee on investment expressed great concern over the poor performance of Board of Investment (BoI) on Friday and recommended to include members of the standing committee in meetings with investors.
The committee which met with MNA Ghulam Haider Samejo in the chair, asked BoI to include the members of the NA standing committee in the meetings with foreign investors. The committee was briefed on the working and functioning of the investment ministry and BoI's mandate which is the apex body to promote, encourage and facilitate both local and foreign investment.
The committee was informed about the investment promotion, investment policy formulation, implementation and negotiation with foreign countries and international organisations for promotion and protection of investment.
The committee was also briefed about the responsibilities and activities of BoI in which investment facilitation services, policy advocacy for business friendly environment, enhancing Pakistan's image, strengthening investment protection, establish linkage with public and private sector and to provide information on investment opportunities.
It was informed about the recent initiative of BoI that policy of setting up special economic zones (SEZ) approved by ECC on 14.10.2008 - first draft of SEZ Act has been prepared and will be sent to the Law and Parliamentary Affairs Division for the vetting which will be submitted for approval to the Cabinet and Parliament subsequently.