PBIT rises to facilitate investment companies

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STAFF REPORT LHR: Punjab Board of Investment and Trade is not only attracting foreign investment but also protecting and facilitating those foreign companies, which are already working in the province but facing hardships in their expansion plan.

The Board of Investment has also evolved a plan to set up a one-window cell in the province to facilitate the foreign investors. Under this initiative, the PBIT will itself approach all provincial agencies and departments including LDA, Agriculture Department, Livestock Department, C and W, Women Rights, Labour Department, provincial Industries Department and Energy Department for necessary proceedings and formal documentation, said PBIT newly-appointed CEO Ilyas Ghauri. He said that the investors will not have to experience difficulties in contacting a large number of government departments rather one window facility will help them obtain all licenses. Ghauri observed that the Board is responsible for promoting and facilitating local businesses as well as the international businesses in Pakistan, especially in Punjab. The purpose of the organization is to provide cost-competitiveness in various emerging sectors, a professional work force and a world class infrastructure.

He also said that due to pursuance of PBIT business regulations have been profoundly overhauled along liberal lines. Most barriers to the flow of capital and international direct investment have been removed.

Foreign investors do not face any restrictions on the inflow of capital, and investment of up to 100% of equity participation is allowed in most sectors, he maintained.


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Published in: Volume 05 Issue 40

Short Link: http://www.technologytimes.pk/?p=12156