Steps being taken to encourage foreign investment, PM Khan tells Mitsubishi delegation

Published March 12, 2019
Prime Minister Imran Khan meets the CEO of Mitsubishi Corporation-Pakistan, Kimihide Ando, in Islamabad on Tuesday. — Photo courtesy Radio Pakistan
Prime Minister Imran Khan meets the CEO of Mitsubishi Corporation-Pakistan, Kimihide Ando, in Islamabad on Tuesday. — Photo courtesy Radio Pakistan

Prime Minister Imran Khan on Tuesday said the government is taking steps to ensure that a business-friendly environment is provided to foreign investors and to improve the ease of doing business in Pakistan, Radio Pakistan reported.

The premier made the comments while speaking to a delegation of the Mitsubishi Corporation in Islamabad.

The delegation was led by the chief executive officer of Mitsubishi Corporation-Pakistan, Kimihide Ando. Adviser to the Prime Minister for Commerce, Textile and Industry Production Abdul Razak Dawood, head of the Task Force on Energy Reforms Nadeem Babar and other senior officials were also present during the meeting.

Ando told Prime Minister Khan that the Japanese government has decided to increase its engagement with Pakistan and to support Japanese companies in boosting their investment in Pakistan.

He said Mitsubishi was encouraged by the "business-friendly policies" of the incumbent Pakistan government and intended to "further strengthen its footprint especially in meeting [the] energy requirements of the country".

As per Radio Pakistan, the delegation head also briefed the premier about the long association of Mitsubishi Corporation with Pakistan which he said spanned over six decades and saw the company undertake profitable business ventures in the country.

In December last year, while chairing a meeting on the ease of doing businesses, Khan had issued directives for the preparation of a comprehensive plan to simplify procedures related to government approvals.

The prime minister today welcomed the decision of the Japanese government as well as Mitsubishi Corporation's interest to explore greater business opportunities in Pakistan.

According to data released by the State Bank of Pakistan on February 18, foreign direct investment (FDI) during July-Jan FY19 declined by over 17 per cent compared to the same period last year.

However, year-on-year inflows during January increased by 2.404pc reaching $132 million from the $128.9m received during the same month last year.

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