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KARACHI: Solar energy policy finalized

The government has prepared solar energy policy and investors should invest in this lucrative sector, said Board of Investment Director General, Nasreen Ali.

She said Pakistan is one of the most potential countries for investment and the BoI is facilitating local and foreign investors for speedy materialisation of their projects. She said the BoI is doing its best to attract foreign investors to Pakistan through a most liberal investment policy.

The BoI assists companies and investors who intend to invest in Pakistan as well as facilitates the implementation and operation of their projects. A wide range of services provided by the BoI include extending information on the opportunities for investment and facilitating companies that are looking for joint venture partners.

The BoI acts as a focal point of contact for prospective investors, both domestic and foreign to provide them with all the necessary information and assistance in coordinating with other government functionaries, she added. The BoI also evaluates applications of investors for the work and business visas, branch liaison office and security clearance. Replying to a question, she said anyone could invest with 100 percent equity basis in Pakistan.

Moreover, the Acting Chairman-KATI, Najmul Arfeen said Pakistanis are facing tough competition from its neighboring countries like India, Bangladesh and China. The cost of doing business in these countries is much lower than Pakistan. Despite this, industries in Pakistan are facing crisis due to high cost of utilities notwithstanding of the fact that the labour is comparatively cheaper. He demanded the BoI to take issues of industrial sectors to the government departments concerned for their permanent and sustainable solutions. Daily Times

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