Pakistan Pursuing Policies to Enhance Foreign Investments: BOI
According to news sources, Board of Investment (BOI) Chairman Fareena Mazhar of Islamabad stated that Pakistan is pursuing measures to improve the ease of doing business and is encouraging international investors to invest in Pakistan.
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Ms. Mazhar made these remarks during a seminar designed to inform prospective foreign investors and businesses about the current processes and policies. She stated at the seminar that there are over one thousand foreign companies in Pakistan and that improved policies will encourage more firms to join.
In a similar vein, Ms. Fareena explained that the government has established 22 Special Economic Zones (SEZs) that are fully equipped with all the necessary facilities for international corporations and industries to establish production units in Pakistan.
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Referring to the recently enacted Electronic Vehicle (EV) Policy, the chairman asserted that EV manufacturing facilities in Pakistan will provide greater advantages to businesses. Incentives include a reduction in customs duties on EV-specific parts, a lower rate of value-added tax and sales tax, and a reduction in customs duties on imported parts.
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