Minister of State and Chairman Board of Investment (BoI) of Pakistan, Atif R Bokhari said on Saturday that the government would take special measures to facilitate the local and foreign investors to bring in more investment to Allama Iqbal Industrial City, a prioritized Special Economic Zone (SEZ) of Faisalabad Industrial Estate Development and Management Company (FIEDMC).
He expressed these views while talking to Chairman FIEDMC Mian Kashif Ashfaq who called on him today.
Both discussed the investment prospects available in the country and the areas and fields where foreign investors could make investments leading to overall economic development and increase in the GDP growth rate. Problems faced by the foreign investors amid Covid-19 situation also came under discussion.
Atif Bokhari disclosed that they are working on a new act, which would make sure presence of all the federal and provincial departments in One Window Operation of FIEDMC.
"Road shows would be conducted in different countries of the world through joint venture of BoI and FIEDMC to attract foreign investment," he said, adding: "The government has been working to improve all the nine indicators of 'Ease of Doing Business' including starting business, paying taxes , getting credit, resolving insolvency, getting construction permits, trading across the borders, property registration, getting electricity and enforcing contracts to be implemented for attracting the foreign investment in the country."
Bokhari also appreciated FIEDMC Chairman Mian Kashif Ashfaq for his efforts aimed at accelerating development process of Allama Iqbal Industrial City.
On the other hand, United Business Group (UBG) central chairman Iftikhar Ali Malik, while talking to a delegation of traders led by Mian Aftab Zia, said that 'Made-in-Pakistan' products should be promoted and made a buzzword to strengthen manufacturing sector.
"Unless and until manufacturing sector is strengthened and exports are increased economy would not be able to achieve high growth rate," he said, adding: "Pakistan needs export-driven growth strategy."
Iftikhar Malik urged Pakistani entrepreneurs to develop international standard brands to capture global markets in the wake of pandemic of coronavirus besides fetching more foreign exchange for the country. He said that private sector had to come forward to develop their own brands on war footings, otherwise, the neighbouring countries would continue to sweep international markets.