ISLAMABAD, Dec 3: Federal Minister for Industries and Production Liaqat Ali Jatoi issued fresh guidelines on investors facilitation and investment promotion during his visit to the Board of Investment (BoI), here on Tuesday.

Jatoi reviewed with BoI management strategies to improve the investment climate and to achieve $1 billion FDI target for the current fiscal year.

The minister has already directed PIDC to convert its Korangi and Javedan Cement Factory plots into modern industrial estates for the establishment of SMEs. He also informed that SME Bank branches will be established at these industrial estates.

For providing developed industrial zones to foreign investors, he directed that the work on new EPZs must be taken on priority and country-specific EPZ should be established to attract investors from capital exporting countries like Japan, UAE, China and USA.

He asked the BoI management to focus on the Gulf countries given their high potential for investment.

He advised that the Honorary Investment Counsellors in the Gulf countries should play an active role and interact with the investors, especially the overseas Pakistanis so as to interest them in the investment potential of Pakistan and the facilities which we offer for attracting investments.

The minister said soon he would visit UAE, Oman, Bahrain, Qatar, and Saudi Arabia so that the investors in these countries are apprised about the business friendly policies of the democratic government.

Jatoi also decided that an Advisory Council be constituted for BoI from high calibre representatives amongst industrialists and agriculturists from all over the country.

This council will meet every two months and advised the minister on investment policies and improvements in the investment climate.

He made it mandatory for the officers of his ministry to undertake only result-oriented foreign tours.

He directed that visiting delegations/officials will submit their tour reports along with findings to him immediately on their return in order to facilitate follow up on investment proposals.

He said after Eid he would visit FPCCI, OICC&I, and Karachi Chamber of Commerce & Industry and meet the distinguished business leaders so that he can have first-hand knowledge of their problems for effective and timely redressal.—APP