Islamabad: Board of Investment (BOI) Chairman Fareena Mazhar on Friday (October 8) stated that Pakistan is pursuing measures to enhance the ease of doing business and encourages international investors to invest in Pakistan, news sources reported.
Ms Mazhar made these remarks during a seminar arranged to brief the potential foreign investors and companies regarding the ongoing processes and policies. Talking at the seminar, she stated that there are over 1,000 foreign firms in Pakistan and that improved policies will encourage more companies to join. She also stated that, according to Vision 2025, Pakistan is on track to enter the world’s top 25 economies, with GDP growth anticipated to reach 8% between 2018 and 2025 and single-digit inflation. She also stated that Price Waterhouse Coopers, an international market watchdog, has ranked Pakistan as one of the top 20 markets by 2030.
Similarly, Ms Fareena stated that the government has established 22 Special Economic Zones (SEZs) that are fully equipped with all the necessary facilities for international firms and industries to establish production units in Pakistan.
While referring to the newly enacted Electronic Vehicle (EV) Policy, the chairman stated that EV manufacturing facilities in Pakistan will provide more benefits to businesses. Some of the incentives include the reduction in the customs duty on EV specific parts, reduced rate of value-added tax and sales tax as well as customs duties on import of parts.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
