Federal cabinet approves 'Invest Pakistan' legislation to boost foreign investment
Pakistan
Syedain Raza Zaidi was appointed as Chairman of Karachi Port Trust on deputation basis
ISLAMABAD (Dunya News) – The federal cabinet has given the green light to the legislation for 'Invest Pakistan' on the recommendation of the Investment Board. The decision was taken in a meeting held on Wednesday.
The new legislation aims to establish the office of "Invest Pakistan" under the Investment Board, which will work in a public-private partnership. The objective of this initiative is to provide investor-friendly services to boost foreign investment in the country.
During the meeting, guidelines were also approved regarding amendments to ministries and divisions to use the word "federal government" in place of "competent authority" in their acts and rules.
Moreover, the cabinet also approved the appointment of Syedain Raza Zaidi, a grade 21 officer, as the chairman of Karachi Port Trust on a deputation basis.
In addition, the cabinet also approved the decisions taken in the meeting of the Economic Coordination Committee held on 13 April 2023.
The move is expected to facilitate foreign investors and provide a conducive environment for investment in Pakistan. The government hopes that the new initiative will help to strengthen the economy and create employment opportunities in the country.
