KARACHI: Tanvir Ahmed Sheikh, President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that the permission for import of cotton from India through Wagah border is the only immediate solution to fill the gap between the demand and supply of cotton.
During a meeting with Mushtaq Malik, Secretary Board of Investment (BOI) at the Federation House, Karachi, he discussed the issues and opportunities to promote investment activities in Pakistan.
Tanvir Ahmed Sheikh highlighted the issues being faced by the private sector when investing in the country. He said that the private sector has fulfilled its commitments to invest in Pakistan but the government in certain areas was not successful to fulfill its commitments.
He exemplified the �extile Vision 2005?programme where industrialists invested their funds in the textile sector according to the targets determined by the planning authorities. The sector imported and insured the machinery and enhanced investment through equity-based financing. As a consequence, the textile sector increased its production capacity and modernised the facilities.
However, MINFAL failed to provide the targeted production of textile raw material cotton due to which the textile is facing unutilized and idle capacity which is hampering its profitability. The President highlighted the efforts of the FPCCI in promoting the investment activities in Pakistan. He stressed that integrated efforts are required for the cause of national economy. The investment promotion is not an isolated activity; it is closely related with the FPCCI broader objectives.
He mentioned that in the forthcoming meeting of ECO - in Istanbul- a presentation on the investment opportunities in Pakistan would be made by the FPCCI delegates. Mushtaq Malik mentioned the positive change in the magnitude of the inflow of foreign investment - portfolio and FDI in the country. He highlighted that in the last 5 years inflow of investment reached at $1.9 billion from $350 million.
It was notable that inflow of foreign investments had increased manifold after 9/11. Despite several political issues and the law and order problems in certain areas, the volume of foreign direct investment (FDI) is rapidly increasing.
He said that it is because of the attractive economic policies, which created confidence in the minds of foreign investors. Now, foreign investors believe that they can earn attractive return by investing in Pakistan.
The possible areas of co operation and joint efforts between the FPCCI and the Board of Investments were also identified. It was decided that BOI and FPCCI would work in collaboration to promote the investment activities for the betterment of overall national economy.
Several avenues of mutual efforts were identified and it was decided that BOI will establish a link with the FPCCI website on the BOI website, while the FPCCI has already provided a link to the latter抯 site. The collaborative efforts will be launched in the fair and exhibition and other international events to promote the investment in Pakistan.
During a meeting with Mushtaq Malik, Secretary Board of Investment (BOI) at the Federation House, Karachi, he discussed the issues and opportunities to promote investment activities in Pakistan.
Tanvir Ahmed Sheikh highlighted the issues being faced by the private sector when investing in the country. He said that the private sector has fulfilled its commitments to invest in Pakistan but the government in certain areas was not successful to fulfill its commitments.
He exemplified the �extile Vision 2005?programme where industrialists invested their funds in the textile sector according to the targets determined by the planning authorities. The sector imported and insured the machinery and enhanced investment through equity-based financing. As a consequence, the textile sector increased its production capacity and modernised the facilities.
However, MINFAL failed to provide the targeted production of textile raw material cotton due to which the textile is facing unutilized and idle capacity which is hampering its profitability. The President highlighted the efforts of the FPCCI in promoting the investment activities in Pakistan. He stressed that integrated efforts are required for the cause of national economy. The investment promotion is not an isolated activity; it is closely related with the FPCCI broader objectives.
He mentioned that in the forthcoming meeting of ECO - in Istanbul- a presentation on the investment opportunities in Pakistan would be made by the FPCCI delegates. Mushtaq Malik mentioned the positive change in the magnitude of the inflow of foreign investment - portfolio and FDI in the country. He highlighted that in the last 5 years inflow of investment reached at $1.9 billion from $350 million.
It was notable that inflow of foreign investments had increased manifold after 9/11. Despite several political issues and the law and order problems in certain areas, the volume of foreign direct investment (FDI) is rapidly increasing.
He said that it is because of the attractive economic policies, which created confidence in the minds of foreign investors. Now, foreign investors believe that they can earn attractive return by investing in Pakistan.
The possible areas of co operation and joint efforts between the FPCCI and the Board of Investments were also identified. It was decided that BOI and FPCCI would work in collaboration to promote the investment activities for the betterment of overall national economy.
Several avenues of mutual efforts were identified and it was decided that BOI will establish a link with the FPCCI website on the BOI website, while the FPCCI has already provided a link to the latter抯 site. The collaborative efforts will be launched in the fair and exhibition and other international events to promote the investment in Pakistan.
