ISLAMABAD, December 25 – Coordinator to Federal Tax Ombudsman (FTO), Meher Kashif Younis said on Sunday afternoon that economic partnership between China and Pakistan has been reinforced by inking 20 agreements and Memorandum of Understanding (MOs) under BRI.
Addressing as keynote speaker at a seminar on “The impact of SIFC on Pakistan Economy” held under the aegis of Gold Ring Economic Forum, he stressed that BRI was globally beneficial.
He hinted that countries like France, Germany and Korea have expressed their interest in entering administrative control of agreements related to power distribution companies of Pakistan.
He said Pakistan’s economic landscape has undergone a remarkable transformation, largely attributed to the establishment of SIFC (Special Investment Facilitation Council) that has successfully taken significant strides in attracting foreign direct investment.
Younus said this initiative holds immense significance, particularly in the realm of FDI as SIFC effectively engages various countries and fully committed to ensuring investment flows into the country.
He said its manifesto includes foreign investment with a long-term goal of touching $60 billion in five years and eventually achieving the target of $100 billion. He said what “Whatwe need is consistency in economic, fiscal, trade policies and close collaboration with local and foreign stakeholders for attracting investments”.
He pointed out that it was a good omen that Saudi Arabia, the UAE, Kuwait, and Qatar have signed multi-billion-dollar MOUs for FDI depicting tremendous response to SIFC which is likely to increase substantially from January next year.
