Islamabad— Moves are now underway to target investors to key sectors in Pakistan’s economy including auto and auto part manufacturing, food and beverages, information technology, logistics and textiles, as part of a bid to spur new jobs and help in the recovery post COVID-19.

The International Finance Corporation, IFC, the largest development organization working with the private sector in emerging markets, is working with Pakistan’s Board of Investment, BOI, in the push to attract investment and reduce the most immediate, short-term implications of COVID-19,

It follows the recent launch of BOI’s  Investment Promotion Strategy, centered on investor-targeting, generating reinvestment and linking foreign direct investment, FDI,  to the domestic private sector to help kick-start key sectors, and minimize business losses, lay-offs, and divestments.

“Our new investment promotion strategy focuses on proactively targeting investors in priority sectors and ensuring that BOI provides the support and facilitation services needed to assist them with their investments. Supporting existing investors to solve regulatory and other issues is a key part of BOI’s commitment to serving investors in Pakistan, ” said  Fareena Mazhar, Secretary BOI. “ The government of Pakistan has its full commitment to make Pakistan a business-friendly destination. Nearly 300 reforms have been implemented since 2006 to improve the investment climate in the country.”

For its part, IFC ,in partnership with the United Kingdom’s Foreign, Commonwealth & Development Office (FCDOis supporting implementation of the new stratedy by building BOI’s capacity to target high-potential investors, improve its client focus, upgrade BOI’s website to make it a more useful tool for investment promotion, providing  e-services and updating the  legal framework to make investing in Pakistan more predictable. The objective is to see investment in Pakistan increase to USD $5 billion by 2023.

“It’s vital at this time in a COVID-19 impacted world, to work together on ways to catalyze investments in key sectors of Pakistan’s economy  to help create new jobs, upgrade technology and help spur economic growth,” said Shabana Khawar, Principal Country Officer, IFC Pakistan. “With the new strategy and emphasis on proactive investor targeting in high-potential sectors, we can expect investment to increase during this recovery period.”

BOI will establish an internal task force to focus on investor retention and reaching out to key investors to support them through this COVID-19 crisis period. The Investment Promotion Strategy is the first step towards a comprehensive roadmap that will help BOI achieve its strategic goals and objectives over the next three years.

ISLAMABAD –  Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood hailed Australian inventors for injecting capital into different sectors of Pakistan.

During a meeting with a delegation of Fortescue Metals Group Limited, headed by Group Chairman Andrew Forrest, Dawood said the approach of Fortescue Group was unique and it would result in transfer of knowledge and technology to Pakistan.

He added that the workforce of Pakistan was quite capable of learning and adopting new technologies quickly and the investment would result in improving the labour market.

The adviser underlined that the Board of Investment (BOI) would act as the focal point for the group and would actively resolve any issues that may arise during different stages of implementation of its plans.

He appreciated the approach of the group for giving employment opportunities to local communities, which was a benchmark of its investment plans in Pakistan.

In the meeting, the Fortescue Group gave a presentation on its proposed plans for investing in Pakistan. It revealed that Pakistan was one of the shortlisted countries, which were being actively explored for investments. Forrest appreciated the support and enthusiasm of the government of Pakistan.

He said the investment would focus on green industry, starting from generation of hydroelectric power and development of industry in the associated land, which would be owned and operated by the group with the help of local partners.

It was highlighted that active engagement on the part of the government and local communities, sustainable environmental practices, rapid decision-making and speedy access to markets were the criteria considered for shortlisting Pakistan as a potential investment destination. Forrest said the investment from Fortescue Group would generate economic opportunities for the local communities, employment and large-scale development of the green industry for the export market and domestic consumption. Besides, it will result in diversification, broadening and better skills of the workforce in Pakistan.

“Pakistan is one of the few countries in the world ensuring gender balance in employment opportunities,” he said, adding, the group also made a plan to train and employ women to endorse efforts of the government. He said the group intended to invest in Pakistan to introduce new technologies with zero carbon emissions, particularly green fertiliser and green steel production plants.

Islamabad: A delegation of Fortescue Metals Group Limited, headed by Mr. Andrew Forrest, the Chairman of the Group, visited Board of Investment (BOI) today. The meeting was chaired by Advisor to the Prime Minister on Commerce and Investment, Mr. Abdul Razak Dawood, and attended by Chairman BOI, Mr. Atif R. Bokhari, Secretary BOI, Ms. Fareena Mazhar, and the team of BOI.
In the meeting, the Fortescue Group gave a presentation on their proposed plans for investment in Pakistan. The Group is a renewable energy to green industry developer, financier and operator, while it intends to invest in Pakistan to establish new technologies with zero carbon emissions, particularly Green Fertilizer and Green Steel production plants. Over the last two days, the delegation visited some of the possible sites for their ventures. It was informed in the meeting that the sites in Pakistan have a lot of potential and value in terms of energy source, which can sustain the industry to support the future of Pakistan. The Group also appreciated the work already being carried out at various visited sites by the Government.
During the presentation, Fortescue Group informed that Pakistan is one of the short-listed countries, which are being actively explored for investments. The investment would focus on Green Industry, starting from generation of hydropower and development of industry in the associated land, which would be owned and operated by the Group with the help of local partners. It was highlighted that active engagement from the Government & local communities, sustainable environmental practices, rapid decision-making and speedy access to markets are the criteria considered for shortlisting of Pakistan as a potential destination. The investment from Fortescue Group would result in generating economic opportunities for local communities, employment and large-scale development of green industry for export market and domestic consumption. In addition, it will result in diversification, broadening and up-skilling of workforce in Pakistan.
Talking to the delegation, the Advisor to the PM said that the approach of the Fortescue Group is unique and it would result in knowledge and technology transfer to Pakistan. He added that the workforce of Pakistan is quite capable of learning and adapting to new technologies quickly and the investment would result in improving of our labor market. Mr. Dawood underlined that the Board of Investment would act as the focal point for the Group and actively resolve any issues that may arise during different stages of materialization of their plans. He appreciated the approach of the Group for giving employment opportunities to indigenous communities, which is also a benchmark for their investment plans in Pakistan.
Mr. Andrew Forrest, Chairman of the Group, appreciated the support and enthusiasm of the Government. He added that Pakistan is one of the few countries in the world which is ensuring the gender balance in employment opportunities and said that the Group also plans to train and employ women to endorse the efforts of the Government.
The meeting ended with both sides agreeing to work together for a strong and sustainable partnership to develop green industry and support the future of Pakistan.

Islamabad :Actor par excellence and powerhouse performer, Junaid Khan, is now set to enthrall viewers in a new project for HUM TV, where he would be seen alongside Hira Mani and Armeena Khan. The drama recently went on floors and is slated to go on-air in October.

Starring Khan in the lead, the actor will be seen essaying the role of a man who has an ideal relationship with his partner and lives a happy life with his family. Things take a turn when an outsider intervenes in their content lives, and he ends up facing some struggles which start a journey of self-contemplation and healing for him. Directed by Ali Hasan, the drama is being produced by MD productions

Talking about his character, the actor shared, “My character is of a perfect family man whose life turns upside down when some individuals start intervening – from there, he starts the journey of self-discovery.

Currently starring in Kasak and Kashf, Junaid Khan seems to have his plate full this year as he is also gearing up for the highly anticipated, KhudaAurMohabbat 3. He also recently launched his YouTube motivational series titled ‘Keh Do’, where he can be seen sharing his personal experiences and views with fans