ISLAMABAD: Prime Minister Raja Pervez Ashraf on Friday directed for changing the country’s rules of business to enable Board of Investment (BOI) to attract foreign investment.
The Prime Minister in principle gave approval to the establishment of BOI Fund which would enhance its operational capacity to a significant level compatible to encourage investment in the country both at quantitative and qualitative terms.
The Prime Minister gave these instructions, on Friday, during a presentation by the BOI in a meeting at the PM House, which was attended by Finance Minister Dr Abdul Hafeez Shaikh, Chairman BOI Mr Saleem H. Mandviwalla and the senior officials of the relevant ministries.
The Prime Minister also directed the BOI and the Ministry of Finance to clear the projects of motorcycle manufacturing with latest technology, Lotte Group of South Korea’s project of Purified Terephthalic Acid (PTA), import of Liquified Natural Gas (LNG) and Centaurus, a project of Saudi Company in Islamabad, within couple of months involving 1.8 billions dollars of total foreign investment.
The Prime Minister directed the Chairman Board Investment in the meeting to keep him apprised on regular basis of the development, regarding implementation of the decisions taken in today’s meeting.
The Prime Minister said the indecisiveness and complacency will not be tolerated and those found responsible will surely face the consequences. (APP)