Islamabad: Overseas Investors Chamber of Commerce and Industry (OICCI) President Haroon Rashid recently shared a number of proposals aimed at stimulating foreign investment in the country — a news source reported on September 15.
According to the details available, the OICCI president presented these proposals in a meeting with Advisor to the Prime Minister on Finance Dr Abdul Hafeez Shaikh. On the occasion, Rashid stated that the government should look at the issues of overseas investors holistically. He added that the incentives offered to foreign investors under Section 65 of the IT Ordinance 2001 and other similar incentives should not be withdrawn during the implementation phase of projects that were initiated under the said incentives.
He also urged the government to resolve the issue of tax refunds and rising circular debt. He further praised the launch of the Roshan Digital Account for overseas Pakistanis that will allow expats to invest in Pakistan with relative ease. This move is expected to provide a boost to the country’s foreign exchange reserves and foreign investments.
