Khyber News

ISLAMABAD: Prime Minister Raja Pervez Ashraf directed that the Rules of Business of Pakistan be changed enabling the BOI to attract foreign investment in the country which was internationally recognized as the mode of development on fast track basis.

The Prime Minister gave these instructions during a presentation by the BOI at a meeting chaired by the Prime Minister at the PM House today which was attended by the Finance Minister Dr Abdul Hafeez Shaikh, Chairman BOI Mr Saleem H. Mandviwalla and the senior officials of the relevant Ministries.

The Prime Minister also directed the BOI and the Ministry of Finance to strive to clear the projects of Motor Cycle manufacturing with latest technology, Lotte Group of South Korea’s project of Purified Terephthalic Acid (PTA), import of LNG and CENTAURUS, a most prestigious project of Saudi Company in Islamabad, within couple of months involving 1.8 billions dollars of total foreign investment.

In the meeting, approval in principle, was accorded for the establishment of Board of Investment Fund which would enhance its operational capacity to a significant level compatible to encourage investment in the country both in quantitative and qualitative terms at the same time.

The Prime Minister directed the Chairman Board Investment in the meeting to keep him apprised on regular basis of the development regarding the implementation of the decisions taken in today’s meeting.

The Prime Minister put the message across loud and clear that the indecisiveness and complacency will not be tolerated and those found responsible will surely face the consequences. -- PR