The Commerce Ministry has issued directives to 16 commercial attaches posted in different countries to lure foreign investment in the country. Senate Standing Committee member Senator Karim Ahmed Khawaja said the directives were issued in compliance of the recommendations given by the committee to the Commerce Ministry.
The directives were issued to commercial attaches in the United Kingdom, Canada, United States, India, Australia, Hong Kong, Malaysia, Singapore, Thailand, Bangladesh, Sri Lanka, Germany, France, South Africa, Tanzania, Kenya, Oman, Qatar, Kuwait, Saudi Arabia and Iran. The proposal was initially moved by Karim Khawaja in a bid to enhance volume of foreign investment in the country. Khawaja said businessmen of Pakistani origin, who had settled their business abroad since 1947, should be contacted in this regard.
He said he held a meeting with Commerce Secretary Munir Qureshi in which a framework was prepared to materialise the proposal. “During the meeting with the secretary, 16 countries were identified for exploring investment and all other necessary work has been done in this regard,” Khawaja added. He said a good amount of foreign investment can be explored because overseas Pakistanis still have an affiliation with their country.
“During my visits to different countries, I met Pakistani nationals settled over there and they expressed their desire to come to Pakistan with investment,” Khawaja said.
Responding to a question, he said the modalities for incentives would be prepared after approaching and negotiating with them. Earlier in the meeting of the Senate Standing Committee, Ishaq Dar appreciated the proposal saying the Board of Investment (BOI) should be contacted in this regard. He said that the ambassadors deputed in those countries should also be directed in this regard.
