German investors invited to explore Pakistani market

ISLAMABAD: Finance and Revenue Minister Shaukat Tarin has stressed on the German investors and businessmen to further strengthen business and economic linkages between the two countries.

Talking to a German business delegation, which called on him at the Finance Division, the finance minister highlighted the salient features of Pakistan’s investment policy.

The policy envisages attracting further foreign direct investment and providing full support and facilitation to the foreign investors.

The finance minister apprised that Pakistan’s economy is coming out of the consolidation phase and is presently in a state of growth. The objective is to steer the economy towards an inclusive and sustainable economic growth with key focus on bottom-up approach, as envisaged by Prime Minister Imran Khan.

At present, the government is proactively executing all policy measures to achieve the major socioeconomic targets of the current financial year, he added.

Further, the government is all set to launch an “Agricultural Transformation Plan” to boost agricultural productivity. Microcredit will be extended to the farmers at the grassroots level to procure agricultural inputs and farm machinery, the finance minister said, adding that loans will be disbursed to pave the way for enabling infrastructure like construction of agri malls, storage facilities and commodity warehouses to ensure due share to farmers and to stabilise the prices of the daily use items.

The minister also highlighted the pace of development in the Special Economic Zones (SEZs), which will provide lucrative incentives and attract FDI. He encouraged the German investors to invest in SEZs to enhance the volume of trade and investment between the two countries.

Tarin invited the German companies to use abundant and talented human resources available in the country to make Pakistan their exporting base.

The Finance Minister also welcomed the development that Lufthansa is planning to resume its flight operations in Pakistan.

The German delegation appreciated the warm hospitality extended by the finance minister and said there is a vast scope for enhancing bilateral trade, investment and business ties.

The German delegates also discussed the possibilities of increased business collaboration in the fields of agriculture, renewable energy, e-commerce and IT.

In his concluding remarks, the finance minister said that the investors’ facilitation is being paid special attention and the government is firmly committed to provide a conducive environment for encouraging foreign investment from all over the world.

He affirmed full support and facilitation to the German enterprises on the occasion.

The German delegation consisted of the representatives of leading enterprises.

Ambassador of Germany to Pakistan Bernhard Schlagheck accompanied the delegation. The Board of Investment (BoI) secretary and representatives of the Overseas Investors Chamber of Commerce and Industry (OICCI) also participated in the meeting. The visit comes on the occasion of the 70th anniversary of establishment of diplomatic relations between the two countries.

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