Board of Investment (BOI) launched a portal for ‘investment opportunities in Housing sector in Pakistan’ on its website today, with the objectives of facilitating the foreign companies interested in making investments in the low-cost housing sector and providing an effective One-Stop Shop solution.
Investment opportunities in housing sector of Pakistan
A simple ceremony for launch of this Portal was organized in the Board of Investment, which was attended by Chairman BOI, Mr. Atif R. Bokhari, Chairman Naya Pakistan Housing and Development Authority (NPHDA), Lt General Anwar Ali Haider, Secretary BOI and other senior officers.
In his opening remarks, Mr. Atif Bokhari welcomed the Chairman NPHDA on the occasion of launch of Portal for this landmark project of the Government. He appreciated the support provided by NPHDA team to BOI, enabling them to work in close coordination and develop the Portal in accordance with NPHDA requirements. Executive Director General (EDG) BOI, Mr. Mukarram Jah Ansari, made a brief presentation about the Portal.
He told that BOI envisions making it easier for the interested businessmen to collect all the required information as well as go through the registration processes without any hassle. The EDG demonstrated that the Portal is linking the foreign investors with all relevant government organizations at Federal & Provincial levels, including Board of Investment for work visas and other services, Ministry of Interior for overall visa procedures, State Bank of Pakistan for relevant rules and regulations for foreign investors, Securities and Exchange Commission of Pakistan for company registration, Federal Board of Revenue for tax registration and Pakistan Engineering Council for required certifications.
He further highlighted that the incentives given to the investors in housing and construction sector as well as other relevant information, from Federal as well as Provincial departments, has been made available under the Portal. The present Government in Pakistan has accorded the status of industry to Construction/Housing sector with plan to construct 5 Million Low Cost housing Units over coming five years.
A special organization called ‘Naya Pakistan Housing and Development Authority’ has been established in this regard. BOI has been assigned the responsibility to act as focal point of contact, linked through a ‘Portal’ with various relevant ministries and organizations, for the assistance of foreign companies and businessmen. At the end of the presentation, Chairman NPHDA appreciated the efforts made by BOI in development of the Portal for facilitation of foreign investors interested in housing and construction projects. Chairman BOI, Mr. Atif Bokhari, directed his team to continue making improvements in the services and accessibility for maximum facilitation of the investors.
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