APBF For More Steps To Promote FDI

KARACHI, Feb. 1 (UrduPoint / Pakistan Point News - 01st Feb, 2017 ) : All Pakistan business Forum has expressed satisfaction over increase in foreign direct investment in first half of the current fiscal year.

During this period, the investment increased by 50 percent to Dollars 1.8 billion but this increase was achieved by involving the money borrowed through the Eurobond, said APBF's President Ibrahim Qureshi in a statement here on Thursday.

However, he urged, the government to take more steps for promoting FDI.APBF president emphasizing the need for raising the country's tax base so that tax-to-GDP ratio could improve from the current figure of 9 percent.

Quoting the State Bank of Pakistan's data, he said that FDI had been declining for the last three years despite regular investments from China. The foreign trade offices role was also vital to promote exports and attract FDI, he pointed out adding that trade officers should explore opportunities to diversify exports of Pakistani goods and services in their respective areas.

He called upon trade officers to take advantage of opportunities offered by China-Pakistan Economic Corridor and growth in Pakistan's economy made by strengthening of democratic institutions and improvement of security situation in the country.

He appreciated the Commerce Ministry's resolve to meet the challenges faced by Pakistan in European markets vigorously ; suggesting it to devise strategies to promote Pakistani products. FDI improvement in December 2016 reflects the improvement in security situation, implying that investors had started coming back to Pakistan.

Moreover, country's liberal policies of investment offered one of the most attractive investment regimes in the region. APBF president said Pakistan's trade with European Union has increased substantively after the grant of GSP plus status to Pakistan. APP/ah/msk/mas � 17:46/18:25/18:25