Government plans modernisation of BOI for providing conducive environment

ISLAMABAD - The government is working on a plan for reconstruction and modernisation of Board of Investment (BOI) for introducing the best international practices to provide conducive environment for investment.

In this regard, a consultative committee has been formed, which consists of senior officials of establishment division and BOI to review and execute the reconstruction plan of BOI on modern lines, Chairman of consultative committee of reconstruction and Spokesman of Board of Investment (BOI) Shah Jahan Shah told here on Thursday.

According to the plan, BOI wanted to hire experts to deal with different sectors including legal, export, investment, Special Economic Zones (SEZs) and marketing and branding experts to enhance the capacity and modernisation of the institution, he said.

Replying to a question, he said that Investment Facilities Center (IFCs) would also be established in Karachi, Lahore, Islamabad and Peshawar to provide modern facilities to investors. SEZs investors would get the facility for plant and machinery import without customs duty in all four provinces of the country.

The government has identified 46 economic zones throughout the country in different regions. Seven of the economic zones are approved. He said, “We are committed to facilitate the foreign investors in Special Economic Zones (SEZs).”

Three each SEZs would be established in Punjab, Sindh and one in Khyber Pakhtunkhwa, he added.

The BOI spokesman said that nine prioritised industrial zones had been proposed for high tech industry meant to enhance the export and employment opportunities to the people in the country.