APBF For More Steps To Promote FDI
Umer Jamshaid Published February 01, 2017 | 06:30 PM
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
Related Topics
Recent Stories
Pakistan urges Int’l community to hold India accountable for espionage in fore ..
PAF always lived up to nation’s expectations: COAS
Pak Navy and Us Navy Conduct Bilateral Exercise Inspired Union 2024
Dubai Customs Clinches Two Prestigious Global Awards for Governance Excellence
Vivo Launched Y100 Smartphone in Pakistan with Unique Color Changing Design and ..
Pakistan name 18-player squad for Ireland and England
Joint exercise of Pakistan Navy, US Navy held in Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 2 May 2024
Today Gold Rate in Pakistan 02 May 2024
Dubai Police Marks International Workers' Day with 'Talabat' Riders
Sharjah Ruler inaugurates 15th annual Sharjah Children’s Reading Festival
Parineeti Chopra opens up about her decision to marry politician Raghav Chadha
More Stories From Pakistan
-
Punjab Health Minister visits Sir Sadiq Hospital
6 minutes ago -
21 lawbreakers netted
6 minutes ago -
Skindar Bosan rebuts report of supporting some candidates in by-election
6 minutes ago -
Sri Lanka's merchandise export improves in March
6 minutes ago -
Sheikha Fatima Bint Mubarak Girls Cadet College Turbat Hosts First Passing-Out Parade
17 minutes ago -
Police arrest bike lifter with five motorcycles
26 minutes ago
-
Yasin Malik hailed as the 'Nelson Mandela of Kashmir' for his tireless efforts towards peace: Chairm ..
36 minutes ago -
Commissioner expresses dismay over absence of BFC staff
36 minutes ago -
Biometric devices provided for attendance of FPC staff
37 minutes ago -
Pakistan urges Int’l community to hold India accountable for espionage in foreign countries
45 minutes ago -
PAF always lived up to nation’s expectations: COAS
51 minutes ago -
Pak Navy and Us Navy Conduct Bilateral Exercise Inspired Union 2024
52 minutes ago