ISLAMABAD, Nov 16: Chairman Board of Investment Wasim Haqqi was appointed Chairman Engineering Development Board on Wednesday. He replaces former Commerce Minister Abdul Razzak Dawood who resigned from his office due to his personal commitments last week.

Minister of State for Investment Umar Ghumman will look after the BOI affairs as chairman.

During the five-and-a-half years tenure of Wasim Haqqi as BOI chairman, the foreign direct investment increased from $322 million to $1.6 billion.

Though Mr Haqqi, a chartered accountant by profession, has 28 years of experience in automobile sector in the country and abroad.

He served as Chairman Automobile Corporation from 1988 to 1990, which has direct link with the Board of Engineering.