- Home
- Pakistan
- News
- Government encouraging private sector for setting up industries in Pakistan:Dr.Ismail
Government Encouraging Private Sector For Setting Up Industries In Pakistan:Dr.Ismail
Umer Jamshaid Published August 24, 2016 | 10:42 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 24th August, 2016) : Minister of State/Chairman, board of Investment (BOI) Dr. Miftah Ismail here on Wednesday informed a Turkish delegation that the government was encouraging the private sector for setting up industries in Pakistan.
The Special Economic Zones (SEZ) has been established to meet the global challenges of competitiveness to attract Foreign Direct Investment (FDI). Dr. Miftah Ismail stated this at a meeting with a Turkish investment delegation led by Levent Cakiroglu, CEO, KOC Holding, Turkey who called on the Chairman BOI at his office here today. Dr.
Miftah Ismail told the delegation that the law allows creating industrial cluster with liberal incentives, infrastructure, investor facilitation services to enhance productivity and reduce cost of doing business for economic development and poverty reduction. Pakistan offers to establish Special Economic Zones which provide 10 years tax holiday for investors and the developers with duty free import of plant and machinery.
The government, he said offered one time Exemptions from all taxes on all imported Capital Goods and Exemption from Income Tax for a period of ten years till June 30, 2020 and five years thereafter for SEZ Zone enterprises. The Chairman welcomed the delegation and highlighted the investment opportunities available in different sectors of the Economy i.e.
automobile, food & food processing, energy, power, LNG, dairy products & live stock for Turkey investment in Pakistan. Mr.Levent, Chief Executive Officer (CEO), M/s. Koc Holding company informed that Koc Holding is Turkey's Leading Investment Holding Company and Koc Group is Turkey's largest industrial and services group in terms of revenues, exports, taxes paid, share in Borsa Istanbul's market capitalization and employment generation.
The shares of 16 Koc Group companies are traded on the Istanbul Stock Exchange, together, the groups comprise 113 companies, 90,000 employees, and 14,000 dealers, agencies, and after-sales services people.
Koc Holding is the only Turkish company to be listed in Fortune Global 500 list. Fortune Global 500 ranked Koc holding at 248 for the year 2011. The company has now signed an agreement to purchase/acquire Dawlance, a premium home appliances company of Pakistan worth of US $ 258 million.
At the end Dr. Miftah Ismail, Minister of State/Chairman, BOI thanked Mr. Levent Cakiroglu, CEO, KOC Holding, Turkey and his delegation, and appreciated their efforts and intention to boost investment, trade and economic relation between the two friendly countries.
The Chairman, BOI assured them for BOI fully support as and when needed. The Chairman, BOI assured them for BOI fully support as and when needed. Levent Cakiroglu, CEO, KOC Holding, Turkey alongwith 5 member delegation visited Board of Investment and met with Minister of State/Chairman, Board of Investment (BOI) Dr.
Miftah Ismail and its Secretary Azahr Ali Chaudhary. The Chairman welcomed the delegation and highlighted the investment opportunities available in different sectors of the Economy i.e. automobile, food & food processing, energy, power, LNG, dairy products & live stock for Turkey investment in Pakistan.
The Chairman, BOI assured them for BOI fully support as and when needed.
Related Topics
Recent Stories
Dar for joint action to counter Islamophobia in context of Israeli aggression ag ..
Azam Tarar urges for effective implementation of Action Plan for Human Rights
PAF cadets' graduation ceremony held
One-day national seminar "Great Power Competition: Challenges and Opportunities ..
10 firms submit LoIs for PIA: Aleem Khan
Saudi Arabia launches Nusuk pilgrim card for the Hajj of 2024
High Commissioner Hawkins hosts reception to mark 'Australia Day in Spring'
PM forms inquiry committee to probe matter of wheat import
E-Evidence system inaugurated in Bahawalnagar district courts
Bitterness at UCLA as Gaza protest cleared
Kenya, Tanzania brace for cyclone as heavy rains persist
DC reviews seven-day anti-polio drive in Federal Capital
More Stories From Pakistan
-
Dar for joint action to counter Islamophobia in context of Israeli aggression against Palestine
8 hours ago -
Azam Tarar urges for effective implementation of Action Plan for Human Rights
8 hours ago -
PAF cadets' graduation ceremony held
8 hours ago -
One-day national seminar "Great Power Competition: Challenges and Opportunities for Pakistan" held
8 hours ago -
Saudi Arabia launches Nusuk pilgrim card for the Hajj of 2024
8 hours ago -
High Commissioner Hawkins hosts reception to mark 'Australia Day in Spring'
8 hours ago
-
PM forms inquiry committee to probe matter of wheat import
8 hours ago -
E-Evidence system inaugurated in Bahawalnagar district courts
8 hours ago -
DC reviews seven-day anti-polio drive in Federal Capital
8 hours ago -
President stresses measures to ensure safety, security of journalists
8 hours ago -
Speakers for joint efforts to boost global climate action through Climate Action Committee
8 hours ago -
IHC adjourns hearing of appeals against conviction in cipher case
8 hours ago