OICCI proposes task force on foreign investment

The Overseas Investors Chamber of Commerce and Industry (OICCI) has approached the caretaker prime minister with a request to set up an overseas investors task force in collaboration with his office to attract more private sector-led foreign investment. The demand by the representative body of 200-plus multinational companies operating in the country comes on the heels of the establishment of the Special Investment Facilitation Council (SIFC), Centralised Gateway Portal and reconstitution of various cabinet committees on investment and energy amid dwindling foreign investment, low economic growth, flat exports and a perennial shortage of foreign exchange. In a letter sent to Prime Minister Anwaarul Haq Kakar on Sept 1, the OICCI said the proposed task force will provide advice and best practices on streamlining regulatory processes, enabling ease of doing business, enhancing investor protection, highlighting investment incentives, promoting human capital development and becoming global ambassadors for Pakistan’s investment opportunities.