ISLAMABAD - The Board of Investment (BOI) is contemplating on an amendment plan in its rules of business and internal structure in order to facilitate the foreign investors and attract investments in the country.
"We have shared this plan with Prime Minister Raja Pervez Ashraf at a meeting held here on July 3, and the Prime Minister has appreciated the plan and has taken keen interest in it for the socio-economic prosperity of the country", said Chairman BOI/Minister of state, Saleem H. Mandviwala while talking to APP on Wednesday.
Another meeting in this regard, he said would be held within next 10 days with the Prime Minister and it is expected that the changes in rules of business of the BOI will be approved.
He added that after the implementation of the plan the investors would be given pro investment facilities especially in removing hurdles in the way of bringing foreign investments in the country.
He said if the BOI is given more powers, the role of the ministries will be do away with empowering the board in making investment policies in the country.
Highlighting the importance of investment and empowering institutions like BOI , he said former Malaysian Prime Minister Mahathir Mohamamd empowered his country's Board of Investment and took his country to the new heights of prosperity.
He said that Pakistan is facing energy crisis due to lack of investment in the sector and the country can overcome the problem by enhancing investment in the country specially in power sector.
He said during his visit abroad, a number of Liquified Natural Gas (LNG) companies have shown their keen interest in the investment in this sector in Pakistan and we should promote this area for reducing energy crisis in the country.
The Chairman BOI stressed the need for promoting LNG sector and facilitating them in making investment in Pakistan.
He said the BOI is also considering a legal framework to facilitate those investors from Pakistan who want to invest in foreign countries adding that this would help export of local manpower and raw materials from the country and in turn this would also benefit the country economically too.