Maximum facilities being provided to foreign investors in Punjab

LAHORE –– Punjab Chief Minister, Muhammad Shahbaz Sharif has said that government has created a favourable atmosphere for investment in the province and maximum facilities are being provided to investors in this regard. He said that an autonomous investment board has been set up for facilitating and provision of all facilities to investors under one roof. He directed the Punjab Investment Board that besides encouraging local investors it should also offer maximum incentives to foreign investors for cooperation in various sectors and provide them complete information about investment opportunities.

He was presiding over a meeting on April 18, 2011 for reviewing the measures taken by Punjab Investment Board for promotion of investment in the province.

Provincial Minister Mian Mujtaba Shuja-ur-Rehman, Chairman Chief Minister’s Special Initiatives Entity Haroon Khawaja, Chairman Planning & Development, Secretary Finance and officer concerned were present.

The Chief Minister said that promotion of investment is of vital importance for the speedy development of the province and elimination of poverty and unemployment. He said that there are vast opportunities of investment in agriculture, livestock, dairy farming and energy sectors in Punjab. He said that Punjab Investment Board should extend maximum encouragement to foreign investors in these sectors and investment process should be further simplified.

He appreciated the measures taken by Punjab Investment Board for investment and said that due to the efforts of the board local and foreign companies have invested in various sectors while negotiations are underway for further investment. He said that transparency is the top priority of the government and this policy is strictly implemented in all development projects and transparent utilization of every penny of public money is being ensured. He directed that public-private partnership should also be promoted.

He said that had indigenous resources been developed during last 63 years, the country would not have been dependent on others. He said that Pakistan can still be put on the road to progress and development if sincere and determined efforts are made for this purpose while the goal of self-reliance can also be achieved through development of national resources.

Earlier, Vice Chairman Punjab Investment Board Rizwan Ullah Khan gave a detailed briefing regarding the measures taken for promotion of investment, performance of the board and its future strategy. The participants of the meeting also gave their proposals for accelerating the pace of investment.

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