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Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation & Investment has
directed the Board of Investment (BOI) to energize investment activity in all
sectors of the country. He was chairing a high level meeting at BOI to review
the progress and future plans regarding the inflow of foreign and domestic
investment in the various sectors here today. Mr. Waseem Haqee, Chairman BOI
and Mr. Jahangir Bashar, Secretary BOI were also present in the meeting.
Dr. Abdul Hafeez Shaikh said that 19 % significant increase in FDI to the tune
of US $ 950 million as compare to the previous year needs to be further
improved in a pro-active manner. The Minister was informed that the Gross
Domestic Fixed Capital Formation (GDFCF) attracted US $ 14,364 million
Domestic Investment in 2003-04 as compared to US $ 11,176 million in 2002-03.
The Minister said that Prime Minister Mr. Shaukat Aziz has agreed to his
request to chair meeting of the members of the Board of BOI on Monday. The
Prime Minister is also President of the Board of BOI, which would be attended
by the Chief Ministers of all the four provinces, 14 members from the Public
Sector and 12 members from the Private sector. The Federal Minister for
Privatisation & Investment is Vice President of the Board of BOI. The new
government attached high priority to the investment activity, he added.
Dr. Abdul Hafeez Shaikh said that the Board of BOI meeting being chaired by
the Prime Minister would pave the way to improve the investment scenario in
the country and it would also help to accelerate the pace of coordinated
provincial and inter ministerial cooperation in this regard.
The Private Sector members of BOI include Presidents of FPCC&I, OICCI, Syed
Yawar Ali, Mr. Ghulam Ghous, Mian Muhammad Mansha, Mr. Sultan Ali Allana, Mr.
Jahamgir Siddiqui, Mr. Javed Saifullah Khan, Mr. Nasir Ali Shah Bukhari, Mr.
Shahid Firoz, Mr. Mohsin Aziz and Mr. Khurshid Marker while the Public Sector
members include the Chief Ministers of all the four provinces, the Federal
Ministers for Finance, Commerce, Industries & Production, Science &
Technology, Food Agriculture & Livestock, Communications, Chairman BOI,
Governor State Bank of Pakistan, Chairman CBR and the Secretary BOI.