BOI pledges close coordination with business on investment policy
Federal Minister for Board of Investment Qaiser Ahmed Sheikh has said the government will work closely with the Lahore Chamber of Commerce and Industry to promote investment, facilitate the business community and accelerate industrial growth, arguing that industrialists and traders should be involved in policymaking, regulatory matters and economic decisions rather than simply informed of them.
Speaking at the LCCI, Sheikh said government departments should consult chambers of commerce and industrial representatives before making decisions on regulations, business standards and investment, so that policies remain practical and do not create unnecessary obstacles to commercial activity. He described an effective one-window facilitation system as essential to spare investors from visiting multiple departments and facing delays in obtaining approvals, and said the BOI would maintain close coordination with the LCCI on investment-related issues.
The minister described the development of Special Economic Zones as an important step in attracting investment, adding that allocating land alone was insufficient and that roads, infrastructure and other essential facilities must also be provided. He highlighted plans to utilise 6,000 acres of Pakistan Steel Mills' land in Karachi as an SEZ, and invited investors to take up the opportunities, saying effective use of large industrial landholdings, supported by adequate infrastructure, could open new possibilities in manufacturing, logistics, industrial investment and exports. He said local industrial competitiveness, production capacity and export potential should be weighed when trade policies are formulated, and that investors needed a predictable business environment, clear regulations and consistency in government decisions to plan long-term investment with confidence.
LCCI President Ali Hussam Asghar said the business community played a vital role in economic growth, employment generation and investment, but that actions by government departments and the exercise of discretionary powers were creating difficulties for industrialists and traders. He said the LCCI did not oppose the implementation of laws and regulations, but that enforcement should not unnecessarily disrupt legitimate business activity, and that authorities should give businesses reasonable time and an opportunity to remedy minor or rectifiable violations instead of immediately registering FIRs, sealing premises or taking harsh action.
Asghar called for a review of relevant laws, including the Punjab Environmental Protection Agency Act and the Punjab Food Authority Act, and said the LCCI was examining legislation and would put forward proposals at provincial and national level. He said the tax system should build taxpayer confidence, reduce unnecessary disputes and facilitate compliance. He also said several industries in Lahore that had been operating for between five and 30 years were now facing relocation notices from the Lahore Development Authority and other departments, and called for a clear, uniform and transparent industrial relocation policy with reasonable deadlines and alternative industrial sites.
