ISLAMABAD : The Board of Investment (BOI) on Tuesday said the new investment promotion strategy launched recently is focused on engaging investors in priority sectors.

In a statement, the board said it would provides the support and facilitation services needed to assist them with their investments.

The BOI maintained that supporting existing investors to solve regulatory and other issues is a key part of its commitment to serve investors in the country.

The strategy was part of the initiative to improve the ease of doing business in the country, but the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) was not satisfied with the launch and its capital office said that the issues faced by the business community have not been heard at a conference.

The FPCCI Capital office has expressed that the business community should be given chance to speak at such forum where the relevant official of various provinces are present.

BOI has refuted the claims of the the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) capital office that a meeting has taken place between BOI Secretary and FPCCI rather it was a conference where 6th Reform Action Plan & Investment Promotion Strategy 2020-2023 was launched.

The BOI states that the concerns of the FPCCI Capital office was not valid as the conference was not a forum of discussion about business community’s issues as conceived by the FPCCI.

The event focused on new strategy, where the priority sectors have been selected through a well-structured sector scanning process.

The sectors selected are food and beverages, auto and auto parts, information technology and IT-enabled services, logistics and value-added textiles.

Key reforms planned for doing business in 2022 include online processing of complaints by Nepra, bank account opening through SECP e-service, national one window for trading across border, establishing notice based collateral registry, simplifying tax administration and regulations, automating payment of stamp duties, commercial courts and automation in Karachi, amending regulations for minority investors, and creating awareness on bankruptcy laws.

Published in Dawn, September 2nd, 2020