PM Shehbaz orders immediate steps to attract foreign investment

Shehbaz foreign investment
PM Shehbaz Sharif chairing a meeting on investment. Photo: APP

Islamabad: Prime Minister Shehbaz Sharif on Monday constituted a committee to resolve the problems faced by the foreign investment companies, particularly related to Gwadar Free Zone.

Chairing a high-level meeting on investment which was also attended by federal ministers, including Miftah Ismail, Chaudhry Salik Hussain, Ahsan Iqbal, Advisors Tariq Fatemi, Zafaruddine Mehmood, and other senior officials, the premier ordered the committee to submit its recommendations within the next ten days.

During the meeting, the Prime Minister said the Chinese investment companies would be provided facilities on a priority basis.

The PM directed authorities to make the visa process easy and remove hurdles in the issuance of visas to Chinese personnel without any discrimination against the project workers related to the CPEC.

The prime minister directed the Investment Board, Planning Ministry, and Finance Ministry to jointly devise a comprehensive plan to promote investment.

PM Shehbaz Sharif was apprised about the investment of $10 billion by companies in areas of energy, infrastructure, railways, and other projects.

It was told that in the first phase, an investment of one to two billion dollars was expected in the projects, which would lead to the creation of 45,000 employment opportunities besides improving the “Ease of Doing Business Index” of the country.

FDI increases by 2.6% to reach $1.868 billion during FY22: SBP

During the fiscal year 2022, Foreign Direct Investment (FDI) in Pakistan witnessed a slight increase of 2.6pc to reach $1.868 billion.

According to a provisional report published by the State Bank of Pakistan (SBP), Pakistan attracted FDI amounting to $1.868 billion during FY22 compared to $1.82 billion during FY21, depicting an increase of $47.3 million.

Read: FDI increases by 2.6% to reach $1.868 billion during FY22: SBP

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