KARACHI, Feb 27: Director General, Board of Investment (BoI) Akhlaq Ahmed Malik on Friday called upon the members of the Karachi Chamber of Commerce and Industry (KCCI) to invest in agro-based industry and food stuff, which had tremendous scope.

BOI DG was talking to the Acting President of KCCI Hamid Nisar at Chamber premises. It was agreed that the BOI and KCCI would carry out joint studies aimed at facilitation to investors.

KCCI would help BOI in research on investment planning and BOI would furnish feasibility reports for investment, which would be made available to the entrepreneur by the Chamber in order to persuade them for investment.

Hamid Nisar pointed out that there were many impediments in the way of local investment. The entrepreneur and particularly the investors have to deal with over 30 agencies and department for establishment of a single unit and have to face the harassment by both tax collecting agencies and the departments concerned.

Policies related to trade and industry are always changing causing uncertainty that is why local investor is reluctant to make investment, he opined. DG BOI maintained that BOI was an apex body and it was capable of providing necessary facilities for investors.

BoI DG urged KCCI members to make investment in upcountry agro-based and particularly the food industry. He said the BOI had also established a Board of Facilitation to provide facilities for local investors. -APP