People will get good news of FDI in coming months: Chairman BOI

Karachi: Global Investment Summit is being held in March next year, people will get good news of receiving foreign direct investment (FDI) in 2 months.

The importance of technology exchange was highlighted after COVID-19. In this regard, a policy on technology exchange is being formulated which is expected to be presented in 6 to 8 weeks.

These views were expressed by Azfar Ahsan, Chairman, Board of Investment (BOI), while addressing a luncheon at Korangi Association of Trade and Industry (KATI).

On this occasion, KATI Patron-in-Chief SM Muneer, President Salman Aslam, KITE CEO Zubair Chhaya, Syed Farukh Mazhar, Senior Vice President Maheen Salman, Vice President Farrukh Ali Qandhari, UBG President Zubair Tufail, Saleem-uz-Zaman, Danish Khan, Farhan-ur-Rehman, Syed Johar Ali Qandhari, SM Yahya, Sheikh Fazal-e-Jalil, Ehtesham Uddin were present along with a large number of senior leaders and KATI members from other business communities.

Azfar Ahsan said that he was saying with great responsibility that Prime Minister Imran Khan’s full attention was on improving the economy and he was keeping a close watch on the economic situation of the country.

He said that special desks for KATI would be set up in the Board of Investment through which the problems of Korangi industrialists would be solved on priority basis.

Chairman BOI invited the KATI members to visit the Board of Investment. He said that there were problems in the Board of Investment and as the fourth chairman he was trying to rectify the situation.

Azfar Ahsan said that I belong to the business community and not to the bureaucracy, therefore I have a better understanding of the issues. We have developed short-term and long-term plans in the economic strategy, and work on one-window and automation is in full swing.

Earlier, SM Muneer, Patron-in-Chief KATI, said that the appointment of Azfar Ahsan as Chairman Board of Investment is appreciated by business community as he belongs to the business community.

He said that Prime Minister Imran Khan had succeeded in overcoming the Economic crisis during Corona due to his excellent vision.

He said that in a meeting last week, the Prime Minister requested me to form a think tank to brief him on his proposals for improving the economy. He said that the think tank has been implemented at the request of the Prime Minister.

KATI President Salman Aslam welcomed BOI Chairman Azfar Ahsan on his arrival in KATI and said that direct investment in the country is very important, for which the government needs to improve infrastructure and reduce production costs.

He said that appreciation of rupee was essential for stable investment. If the confidence of local investors is restored, then foreign investors will invest in the country.

On the occasion, KITE CEO Zubair Chhaya said that local investors are worried, the difficulties faced by the industrialists in Karachi show that they are not doing business jihad. The government must pay due attention to Karachi.

The country’s survival depends on the confidence of local investors. He said that several industrial areas have been set up where investment has been made but till date there are problems of electricity, gas and lease. He said that the country could not develop without improving Karachi.

KATI Standing Committee Chairman for Industrial Investment & Standardization Syed Farukh Mazhar said that the Board of Investment is the backbone of the economy. “We need to focus on small and medium enterprises, the government needs to formulate a better policy in this regard,” he said.

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