Attracting investment: Cabinet body decides to ease tariff regime

Wednesday, January 11th, 2012 3:00:06 by


A high level cabinet body on Tuesday decided to rationalise the tariff regime to attract foreign investment and accelerate the process of national development.

The Cabinet Committee on Investment meeting, chaired by Prime Minister Yousaf Raza Gilani, decided that individual cases for tariff exemptions should be brought up only after examining the linkages and implications for other segments of the industry.

The body will meet quarterly to review the investment policy with a view to attract foreign investment by convincing potential foreign investors that Pakistan is the best destination to do business.

Powers of board of investment were also enhanced as its was decided that the board will be responsible for dealing with all queries regarding investment to promptly respond to challenges and capitalise on opportunities in the investment sector.

The meeting also discussed the matters pertaining to import of CNG buses and setting up of motorcycle factory in Pakistan along with transfer of technology.  The Prime Minister referred the matter to the Committee headed by Deputy Chairman of Planning Commission to decide the matter in a way so as to facilitate foreign investment in the country.

Published in The Express Tribune, January 11th, 2012.

Islamabad News Sources -2

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