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Press Release: Visit of Foreign Service Training Academy Members to BOI


9/15/2017

PRESS RELEASE

 
Islamabad 15th September, 2017.  A group of 26 probationary officers of 44 CTP, undergoing Specialize Training Programe (STP) at Foreign Services Training Academy visited Board of Investment, Islamabad were briefed on the opportunities and challenges of CPEC by Miss Fareena Mazhar, EDG, BoI and Mr. Rifat Pervez, DG, BoI.  
 
Mr.shah jahan shah Additional Secretary while responding to a question said that BOI along with provincial government has identified 9 prioritized SEZs along with CPEC, 7 approved SEZs and 46 other SEZ location. The benefits and facilities can be availed by those investors who are under the umbrella of the SEZs. He further added that one window operation is the order of the day and well facilities in providing conducive environment for investors. Mr.shah jahan shah added that Punjab government took some important initiatives regarding the one window operation. He further added that the Early Harvest Projects will be completed before the December, 2018 and 17,000 megawatts of energy would be generated for addition to the already installed capacity of 20000MW. There is also a shift in the energy mix and this would reduce the cost also. In this respect transmission and distribution system need also to be improved.  He said some important steps for the improvement of Transmission and Distribution are under process. FrieslandCampina invested in the dairy field. He further added that Category-A namely Greenfield investment status has recently been granted to four auto investors, Nishat Motors Pvt Ltd, Kia Lucky Motors Pakistan Ltd, Regal Automobiles Industries Ltd, and United Motors Pvt Ltd.He further added  that the land of Pakistan is full of energy resources in which 60,000 MW of Hydel Power Potential, 340,000 MW of wind power potential, 184 million US barrel of crude oil Reserves, 26 trillion cubic feet of natural gas reserves, Untapped reserves of 9 billion barrel of shale oil and 105 trillion cubic feet of shale gas and Coal Reserves are 175,000 million tons exist. And major export of Pakistan includes Textile, knitwear, Cotton Fabrics, Bed Ware, Readymade Garments, Rice, Sports goods, Leather and Leather products and Cement etc. He also highlighted the importance of CPEC in current scenario of the world. He said CPEC is a fusion of multiple corridors. Potential areas of cooperation/development include: Energy, Transport & Infrastructure, Development of Gwader Port & City, Trade & Commerce, Industrial Cooperation, Financial Cooperation, Agricultural Cooperation and Tourism.
 
He briefed the participant that the critical issues hampering investment are the cumbersome procedures/processes relating to businesses. Full efforts are being made to give honour and respect to the local as well as foreign investors, businessmen for running their businesses with face of mind by providing conducive investment environment, and positive outlook by the government agencies.  
 
Sd/-
(Shah Jahan Shah)
Additional Secretary/Spokesmen