Islamabad: According to news reports, Pakistan’s Board of Investment (BOI) Chairman Fareena Mazhar declared on Friday (October 8) that the country is working to improve the ease of doing business and welcomes international investors to invest in Pakistan.
Ms. Mazhar made her remarks at a session aimed at informing potential foreign investors and companies about current processes and policies. She remarked during the session that Pakistan has over 1,000 international firms and that improved policies will encourage more of them to join.
She also noted that, according to Vision 2025, Pakistan is on course to join the world’s top 25 economies, with GDP growth of 8% and single-digit inflation between 2018 and 2025. Price Waterhouse Coopers, an international market monitor, has Pakistan classified as one of the top 20 markets by 2030, according to her.
Ms. Fareena further claimed that the government has created 22 Special Economic Zones (SEZs) that are fully prepared with all of the required facilities for multinational corporations and industries to set up manufacturing units in Pakistan.
The chairman noted that EV manufacturing facilities in Pakistan will bring greater benefits to enterprises, pointing to the newly approved Electronic Vehicle (EV) Policy. Some of the benefits include lower customs duties on electric vehicle parts, lower rates of value-added tax and sales tax, and lower customs duties on parts importation.