Pakistan Observer

Commercial attaches directed to induce foreign investments

Staff Reporter

Saturday, January 12, 2013 - Islamabad—The Commerce Ministry has issued directives to 16 commercial attaches posted in different countries to lure foreign investment in the country.

Member of Senate Standing Committee, Senator Karim Ahmed Khawaja told media that the directives were issued in compliance of the recommendations given by the committee to the Commerce Ministry.

The directives were issued to commercial attaches in the United Kingdom, Canada, the United States, India, Australia, Hong Kong, Malaysia, Singapur, Bangkok, Bangladesh, Sri Lanka, Germany, France, South Africa, Tanzania, Kenia, Oman, Qatar, Kuwait, Saudi Arabia and Iran.

The proposal was initially moved by Karim Khawaja in a bid to enhance volume of foreign investment in the country.

Karim Khawaja said that the Pakistani origin businessmen, who have settled their business abroad since 1947, should be contacted in this regard. He said that he held a meeting with Secretary Commerce Munir Qureshi in which a framework was prepared to materialize the proposal.

“During the meeting with the Secretary Commerce, 16 countries were identified for exploring the investment and all other necessary work has been done in this regard”, Khawaja added.

He said a good amount of foreign investment can be explored because the Pakistani origin people still have affiliation with country. “During my visits to different countries, I met Pakistani nationals settled over there and they expressed their desire to come to Pakistan with investment”, Khawaja added.

Replying to a question, he said that the modalities for incentives would be prepared after approaching and negotiating with them. Earlier in the meeting of Senate Standing Committee, Ishaq Dar appreciated the proposal saying that the Board of Investment (BOI) should be contacted in this regard. He said that the ambassador deputed in those countries should also be directed in this regards.

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