Foreign investment not possible without facilitation of local investors: minister

Federal Minister for the Board of Investment Chaudhry Salik Hussain stated on Monday that local investors must help attract foreign investment. He was speaking at the Lahore Chamber of Commerce and Industry to the local business community. Additionally speaking were Senior Vice President Chaudhry Zafar Mahmood and LCCI President Kashif Anwar. According to the federal minister, incentives should be given to local investors first because only if they were satisfied would someone from outside come to invest here before giving priority and protocol to foreign investors.

According to, investors in Pakistan were required to visit public institutions repeatedly for various reasons. Instead of harassing the business community, institutions should be there to assist them in managing their operations. He recommended making this place into a place where people could grow their businesses. According to Chaudhry Salik, Special Economic Zones (SEZs) operate similarly to Export Processing Zones. Due to the fact that everyone in the world is investing in renewable energy, the penalties that are being imposed on solar in some societies would be discussed.

The minister suggested that chambers express their views on dollar amnesty so that a plan could be put in place to persuade those who kept their money. No political party, he claimed, had an economic platform. When a party gains power, “first we have to ask ourselves if they have any economic policy,” he continued. He explained that because Afghanistan is a landlocked nation, the only way to supply it with goods is via land route. “The Afghan transit trade will need to continue, but the taxes need to be reviewed. I’ll keep speaking out about issues like taxation, investment in the business community, and refunds, he declared.