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FDI registers 100pc enhancement during first five months: PM told

FDI registers 100pc enhancement during first five months: PM told

ISLAMABAD: With over US $ one billion attracted as Foreign Direct Investment (FDI) during the first five months (August-December) of PTI government as against US $ 426 million in the corresponding period of previous year, the country recorded over 100% increase in foreign investment during this period.

This was told to Prime Minister Imran Khan on Thursday as he chaired a meeting here to review the situation about inflows of FDI in the country over the first five months of PTI government and the expected short-term, medium-term and long-term investments by various countries especially the friendly countries in near future.

Minister for Finance Asad Umar, Advisor on Commerce Abdul Razak Dawood, Special Assistant to PM Naeem-ul-Haq, Special Assistant to PM Iftikhar Durrani, Chairman Board of Investment Haroon Sharif, Secretary Foreign Affairs Tehmina Janjua and other officers were present in the meeting.

The meeting was told that according to statistics of the State Bank of Pakistan, the inflows of FDI during the first months (August-December) of PTI government were recorded at over US $ one billion as against US $ 426 million of the corresponding period of previous year.

Over 100% increase in foreign investment during the PTI government, reflected the trust of foreign entrepreneurs as well as governments in the government of new Pakistan and its policies, it was told.

The Prime Minister was also briefed about the investments made so far by Pakistan’s friendly countries including China, Saudi Arabia, United Arab Emirates, Qatar and Malaysia as well as the expected investments by them.

The meeting was also briefed about the measures taken by the Board of Investment for the promotion of investment. It was further told that an Industrial Cooperation Unit has been established in the Board of Investment.

The meeting was told that special units have also been established for the facilitation of investors including the Overseas Pakistanis to make investments in the country including in the areas of housing and tourism.

It was proposed during the meeting that Additional Secretary level officers should be posted in all ministries to handle the investment-related matters.

The Prime Minister highlighted the importance of foreign investment, particularly the transfer of technology for strengthening of economy, and called for providing maximum facilities to the investors in this respect.