A Comprehensive Investment Policy is Essential for Punjab: LCBDDA

Lahore (Muhammad Yasir) Executive Director Commercial for Lahore Central Business District Development Authority (LCBDDA), Mr. Mohammed Omer and other worthy officials of higher management of LCBDDA, attended a discussion session on Investment Policy Pakistan 2022. LCBDDA also known as Central Business District (CBD Punjab) has always taken the lead by participating in activities to attract more and more investments to Punjab. The consultation session was organized by the Punjab Board of Investment and Trade (PBIT) in collaboration with the Lahore Chamber of Commerce and Industry (LCCI). The session was conducted by Secretary Industries Commerce Investment and Skill Development Department (ICI&SDD), Dr. Ahmed Javed Qazi and was attended by industry thought leaders, members of the business community, stakeholders and dignified government officials. While addressing the session Secretary ICI&SDD. Dr. Ahmed Javed Qazi said that “To utilize the investment opportunities in Punjab a better investment policy is essential. The government aims to gain the trust of the investors and wants to gather all the stakeholders from the public and private sector on the same page”. Executive Director Commercial LCBDDA, Mohammed Omer while expressing his thoughts about the session said that “The province of Punjab has always been a center of interest for domestic and international investors because of its geographical significance, skilled workforce and fertile land. Such gathering of the industry thought leaders is a healthy practice for generating new ideas and clearing many ambiguities regarding investment policy. To facilitate the domestic and international investors we have suggested a separate mechanism for the repatriation of funds”. He further added that we have to work on factors of business ease to boost economic activities in the region. To attract foreign investors first, we have to focus on our local investors. The province of Punjab has great investment potential by developing a comprehensive investment policy, this potential can be materialized to secure maximum investments. The participants of the session also gave their valuable suggestions for the development of an inclusive investment policy, which will help to highlight the investment potential opportunities in Punjab. The session was concluded on the note that new special economic zones should be created to attract more investments. The federal and Punjab government should take initiatives on bilateral terms to boost economic activities in the region. A brief uniform investment policy will not only help in revenue generation for Punjab but will be beneficial for grabbing share in global markets.