farhan_9909
PROFESSIONAL
- Joined
- Oct 21, 2009
- Messages
- 8,989
- Reaction score
- 10
- Country
- Location
FAISALAbAD
Net inflows of foreign investment in Pakistan surged to $3.712 billion during first eleven months of the current fiscal year 2013-14. However, there is a dire need to mobilise foreign investments in critical sectors including oil and gas exploration, power production and transportation and infrastructure, said Engr. Suhail Bin Rashid, President Faisalabad Chamber of Commerce and Industry (FCCI).
He said that for the last two decades the economy was in deep crisis and present Government is trying its best to recognise the micro and macro level economic policies to achieve ambitious GDP growth of 4.4 percent set for the following financial year. He was also appreciative of expatriates who worked hard and remitting their hard earnings to the motherland to the tune of over $14 billion.
He said that Faisalabad was lucky where Chinese economic giants were agreed to invest $2 billion. He said that textile sector is the mainstay of national economy and proper incentives have been given to this sector in the current budget 2014-15 to come out the turmoil and make preparation to harvest the benefits of GSP Plus.
He particularly quoted the incentive of duty drawback given to the exporters of textile products on FOB values on their enhanced exports; if it increases beyond 10 percent over the last year export, the main beneficiary of this will be valued added textile sector that will get 4 percent, made ups that will get two percent followed by processed fabrics to get 1 percent. Similarly the mark up rate of export on re-finance scheme has also been reduced 9.4pc to 7.5pc from the current financial year. He said that series of steps have also been taken to facilitate the exporters.
President FCCI said that comprehensive steps have been taken to involve 45 percent of our youth in productive activities by launching different programmes and schemes to harness their mental abilities along with providing them necessary skills and administrative capability to face the future challenges.
He said that to overcome the load-shedding the steps taken by the Government for launch 8 power sector projects in the year 2013-14 and continuation of 26 power projects including various projects already in process is hoped to get rid of the of the power crisis.
in the following years.
President FCCI said that the economic policies are in the right direction and business community is fully satisfied with the Government attitude and mindset. He said that it was for the first time that federal and provincial budget have been prepared with grand consultation process and its pleasant impact was visible that there was no post-budget chaos.
He said that most of the people are satisfied with the budget as Government has tried its best to facilitate the vulnerable and marginal sections with increased funding in social sector
Net inflow of FDI surged to $3.71b during 2013-14
====================
===========================
=================================
@VCheng @Aether
As believed earlier FDI will be less than Past years but this year it surpassed past year mark.
Net inflows of foreign investment in Pakistan surged to $3.712 billion during first eleven months of the current fiscal year 2013-14. However, there is a dire need to mobilise foreign investments in critical sectors including oil and gas exploration, power production and transportation and infrastructure, said Engr. Suhail Bin Rashid, President Faisalabad Chamber of Commerce and Industry (FCCI).
He said that for the last two decades the economy was in deep crisis and present Government is trying its best to recognise the micro and macro level economic policies to achieve ambitious GDP growth of 4.4 percent set for the following financial year. He was also appreciative of expatriates who worked hard and remitting their hard earnings to the motherland to the tune of over $14 billion.
He said that Faisalabad was lucky where Chinese economic giants were agreed to invest $2 billion. He said that textile sector is the mainstay of national economy and proper incentives have been given to this sector in the current budget 2014-15 to come out the turmoil and make preparation to harvest the benefits of GSP Plus.
He particularly quoted the incentive of duty drawback given to the exporters of textile products on FOB values on their enhanced exports; if it increases beyond 10 percent over the last year export, the main beneficiary of this will be valued added textile sector that will get 4 percent, made ups that will get two percent followed by processed fabrics to get 1 percent. Similarly the mark up rate of export on re-finance scheme has also been reduced 9.4pc to 7.5pc from the current financial year. He said that series of steps have also been taken to facilitate the exporters.
President FCCI said that comprehensive steps have been taken to involve 45 percent of our youth in productive activities by launching different programmes and schemes to harness their mental abilities along with providing them necessary skills and administrative capability to face the future challenges.
He said that to overcome the load-shedding the steps taken by the Government for launch 8 power sector projects in the year 2013-14 and continuation of 26 power projects including various projects already in process is hoped to get rid of the of the power crisis.
in the following years.
President FCCI said that the economic policies are in the right direction and business community is fully satisfied with the Government attitude and mindset. He said that it was for the first time that federal and provincial budget have been prepared with grand consultation process and its pleasant impact was visible that there was no post-budget chaos.
He said that most of the people are satisfied with the budget as Government has tried its best to facilitate the vulnerable and marginal sections with increased funding in social sector
Net inflow of FDI surged to $3.71b during 2013-14
====================
===========================
=================================
@VCheng @Aether
As believed earlier FDI will be less than Past years but this year it surpassed past year mark.
