Investment momentum has increased multi folds in Punjab in the past few months - Chairman PBIT

Tuesday, May 10, 2016

In order to explore the investment potential of the existing companies, the newly appointed chairman of the Punjab Board of Investment and Trade (PBIT) called on Mr. Arif Habib (Arif Habib Group), Mr. Ziad Bashir (Ideas Group), Mr. Bashir Ali Muhammad (Gul Ahmad), Mr. Nadeem Ilahi, Managing Director & Country Head, The Resource Group (TRG) and Mr. Ahsan Malik, CEO, Pakistan Business Council today in Karachi.
While emphasizing the investment potential of Punjab, Mr. Muzaffer Miraj Khawaja said that “Investment momentum has increased multi folds in Punjab in the past few months mainly because of the China-Pakistan Economic Corridor”. “Countries like Malaysia, Germany, Turkey and South Korea are looking at Punjab as their next investment destination” he added.
Chairman PBIT explained the vision of Punjab Board of Investment and Trade and discussed the business opportunities present in Punjab for local as well as for foreign investors. It was agreed that main theme in the investment generation process will be employment generation and skill transfer. Moreover, it was decided that PBIT will work jointly with the main players in IT outsourcing industry to size the market and for developing the strategy to attract investment.  He also mentioned that there were great opportunities of investment and job creation in textile garments sector and urban development.
Chairman PBIT also said, “To meet the 8% growth target by 2018, Punjab government is transforming the regulatory framework to create investment friendly climate which will reduce the encumbrances faced by the local and foreign investors during the investment process”.
Mr. Bashir Ali Muhammad appreciated the efforts of Government of the Punjab in improving governance. He said that Punjab is ready for an economic take off with investments worth billion of dollars materializing in the coming years.
Mr. Nadeem Ilahi said that there is tremendous potential in the IT outsourcing sector to create hundreds of thousands of jobs in the country. Especially, data entry and accounting related work can be outsourced from USA and EU in Pakistan.
Mr. Ehsan Malik said that Pakistan Business Council will work closely with the Government to help achieve high growth and employment generation targets.
They all were highly appreciative of the dynamic leadership of the Chief Minister Punjab and all the great work being done in the social and development sectors. They also assured their full support to get PBIT connected with the business community in Karachi who are eager to invest in Punjab.