Better Law, Order Prerequisite For Foreign Investment: Rana Afzal

ISLAMABAD, (UrduPoint / Pakistan Point News - 30th Nov, 2016 ) : Parliamentary Secretary for Finance, Revenue, Economic Affairs, Statistics and Privatization Rana Muhammad Afzal Wednesday said better law and order was the prerequisite for foreign investment, which had reasonably been improved in country.

Answering a question in the National Assembly, he said the government was actively working to encourage foreign investors to view Pakistan as a long-term investment destination. Rana Afzal Khan said with relatively young population and a consumption-driven economy, Pakistan offered foreign investors a ready market.

He said the government had announced various incentives to foreign investors, including no restrictions on withdrawal of investment or repatriation of profits, duty-free import of textile machinery, and a lower duty rate for import of machinery related to food sector.

He said China-Pakistan Economic Corridor (CPEC) would be a game changer in the region and attract other foreign investors to Pakistan. Rana Afzal said that uninterrupted power supply was being ensured to industrial sector for economic growth.

To a question, Parliamentary Secretary for Planning and Development Saqlain Bukhari said the CPEC was not meant for any particular district or province instead it was a project for the whole country, including Azad Jammu and Kashmir and Gilgit-Baltistan.