LAHORE - In a meeting with members of Overseas Investors Chamber of Commerce and Industry (OICCI), Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, cleared the confusion caused by a recent statement by some authorities, and confirmed that there is no change in government policy on 100 percent foreign shareholding allowed in legal entities incorporated in Pakistan.

He further clarified that to encourage MNCs to set up JVs with local partners the government will need to give some incentives. The Advisor also emphasized on the need for large foreign investment in the manufacturing sector. Dawood also assured that level playing field will be provided to existing investors, as well as new local and foreign investors.

OICCI members’ issues shared with the advisor included concerns on the effective protection of Intellectual Property Rights (IPR) for trademarks, patents’ and copy rights and to make the Intellectual Property Organization Policy Board functional as it has not met since late 2016.

The adviser assured that the government is highly focused on improving ease of doing business.

 and is committed to go the extra mile to facilitate investment and commerce in the country. In this respect he referred to the recent economic reforms package announced by Minister of Finance on23rd January and BOI Chairman’s recent media briefing highlighting various steps to facilitate SME’s and other businesses in the area of tax compliance, property registration and other aspects of ease of doing business.