A four-member delegation from China Railway Signal & Communication (CRSC) Shanghai Engineering International Co Ltd headed by its Vice President, Wo Songlin on Tuesday visited the Board of Investment (BoI) to discuss the upgradation of railways sector in Pakistan.
The delegation called on Major Iqbal Ahmed Khan (Retd), Executive Director General, BoI in follow-up of his meeting with the Minister for Investment during his visit to China and to discuss projects such as Improvement in Signalling System and Replacement of Obsolete Signalling System from Lodhran to Kotri Project, Upgradation of 7000 kms Railway Track of Pakistan, Building of New High Speed Railway Track from Karachi to Peshawar on BOT basis, Surveillance and Security Monitoring System for Pakistan. The meeting was also attended by the Members of National Assembly Standing Committee on Investment, says a press release.
Iqbal welcoming the Chinese delegation appreciated their interest in upgradation of the railways sector in Pakistan. A detailed presentation was given on the overall investment climate and opportunities available in the country. The Executive Director General highlighted the policy parameters of investment in Pakistan. While stressing so he underlined the policy which allowed 100 percent foreign equity in the major sectors and full repatriation of profits and dividends in all the sectors.
The delegation was informed that the average rate of return is almost 30 percent and in some cases up to 50 percent. The delegates were briefed about BoI being an apex government agency for the promotion of investment. It is the first forum where the investor interacts, plays the leading role in facilitating the projects with other ministries by adopting proactive approach. The Executive Director General of BoI assured the delegation of all-out assistance.- PR