The Embassy of Pakistan Washington DC organized a seminar to gather views of Pakistani-American community on promoting private sector investments in Pakistan.
The representatives of leading Pakistani community organizations participated in the seminar. The meeting deliberated on the Amended draft Incentive Package for Overseas and Non-Resident Pakistanis to Invest in Pakistan, being formulated by the Board of Investment (BOI) in consultation with stakeholders.
The draft Package proposes a whole range of incentive to overseas Pakistanis for making investments in Pakistan. The comprehensive document will plug gaps in the previous policies and raise the level of trust and confidence of investors.
Ambassador Jalil Abbas Jilani, who chaired the proceedings of the seminar highlighted the salient features of Pakistan’s investment framework. In his remarks he noted that political stability, security and protection of investments, being most important pre-requisites for promoting investment were in place as a result of Government’s reform agenda.
Ambassador Jilani also shed light on the continued confidence of International Financial Institutions(IFIs) on Pakistan’s economic policies. He highlighted that the Government had achieved sound stabilization of economy and alongside, economic growth was picking up while inflation had massively declined. Forex reserves are continuing to build up and interest rates have touched the lowest level in decades. Senior officials of USAID also participated in the seminar and briefed the participants on USAID’s Pakistan Private Investment Initiative (PPII), that was launched by USAID in 2014. By investing in Pakistani private businesses, the United States is supporting private sector growth and job creation – and Pakistan’s role as a robust and fast-growing economic partner among its neighbors and within the global economy.
It was highlighted by the speakers that Pakistan offered equal opportunities to foreign and local investors. As an emerging economy, Pakistan offered great opportunities, which could be tapped by overseas Pakistanis desirous of making safe and profitable investments in their home country.
The Embassy’s initiative was widely appreciated by the Pakistan-community organizations. The participants observed that an inclusive decision-making approach by the Government would create a broad-based ownership by the community of the policy under preparation. The community representatives exchanged views on the draft Incentive Package which will be communicated by the Embassy to the BOI.
March 11, 2016