Pakistan offers huge incentives to foreign investors: minister

Minister for Commerce Maqbool HH Rahimtoola on Wednesday said that Pakistan’s investment policy offered several incentives for foreign investors. Speaking during the Annual Investment Meeting (AIM) in Dubai, the minister said Pakistan’s investment policy is very liberal and opens new vistas to local as well as foreign investors for investment in various sectors of economy so as to keep Pakistan competitive in international market and make it a viable place for foreign investment.
The World Bank, he said, has ranked Pakistan at number three in South Asia in comparison to other countries including India, Sri Lanka and Bangladesh in “ease of doing business”.
“This higher ranking indicates better and stronger regulation for business and better protection of property rights and it also highlights Pakistan’s openness for trade and investment,” he added. He said confidence of the investors can be seen from the fact that the Karachi Stock Exchange has gone up by 394% since January 2009 to the close on this last Friday.
“This increase is not speculative, it is based on the rate of return and growth displayed by these companies’ dividends and profits,” he emphasized. Sindh Board of Investment Chairman Zubair Motiwala made a comprehensive briefing on investment policies, incentive package and tremendous potential available in the field of oil and gas, agriculture and energy sector and highlighted the policy parameters which allow 100 percent foreign equity in the major sectors and full repatriation of profits and dividends in all the sectors.