March 13, 2008	Thursday	Rabi-ul-Awwal 4, 1429

ISLAMABAD, March 12: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to reframe policy to enhance foreign investment in the country.

This was stated by FPCCI standing committee on Foreign Investment chairman Shaikh Humayun Sayeed in a meeting on Wednesday.

He said there was huge scope of foreign investment in rural development sectors, particularly in electricity, water, education, health and agro-based industries.

The committee urged the government to provide rural industrial zones for local investors to set up small units to create positive image for the foreign investors.

The government may provide political risk coverage to the foreign investment in the policy and the forthcoming budget should have a separate chapter on the protective incentive in foreign investment, he added.

He said that special incentive packages such as tax holiday, subsidised rates of land, proper access of transportation and communication will further attract the foreign investors.

The committee suggested that projects having potential of creating massive employment opportunities should be given top priority to end unemployment in the country. The FPCCI member stressed the need to boost agro-based industries like livestock farming, meat processing, dairy and cattle farming, milk processing, fruits and vegetables, grains, and fish farming to alleviate poverty.—APP