KARACHI, Oct 25: Adviser to the Prime Minister on Finance Shaukat Tareen on Saturday asked the Overseas Investors Chamber of Commerce and Industry (OICCI) to increase its annual investment to $3 to $4 billion in Pakistan.

Talking to media after holding a marathon meeting with the OICCI members, the adviser said that normally their annual investment ranged $1.5 to $2 billion and urged them to increase it gradually.

He said that the mother companies of OICCI members made an investment of about $150 to $200 billion every year around the globe and at least one to two per cent of them should come to Pakistan.

“We will solve all their problems and encourage them to expand their investment in Pakistan. This is a business-friendly government and we want to encourage both local as well as foreign investors. We will reduce cost of doing business, remove red tapism and hold a regular dialogue with them,” he added.

The adviser said that he would hold meetings with business chambers every three months to listen to their problems and address them accordingly.

Tareen noted that increase in foreign and local investment would create opportunities for employment and boost the economy. “This will increase confidence of business community in the government,” he observed.

OICCI President Waqar Malik said that the members of the chamber had full faith in the policies of Shaukat Tareen and they believed that he would be able to turnaround the country’s economy with his plan.

He said that the nine-point agenda of Mr Tareen for economic revival and the aspirations of the OICCI had the same direction. “This has boosted our confidence,” he noted.

“Tareen has shared his plan with OICCI members and we are confident that this would stabilise exchange rate and very quickly resolve balance of payments problem in next 30 to 45 days,” he elaborated.

He said that OICCI has also informed him about the issues confronting foreign investors including law and order and also submitted suggestions.—APP