RAWALPINDI:The Rawalpindi Chamber of Commerce and Industry (RCCI) on Monday said that the projects announced under the Special Investment Facilitation Council (SIFC) would not only increase foreign direct investment but also stabilize the rupee.
Addressing the RCCI”s executive committee meeting, President RCCI Saqib Rafique said that the proposed investment of friendly countries Qatar, UAE, Bahrain and Saudi Arabia in approved projects like agriculture, minerals, IT, energy, petroleum and mining sectors would provide a solid foundation for Pakistan’s economy and will create more employment opportunities.
He said that after the approval of the three billion dollar package of the IMF program and funds from friendly countries, Saudi Arabia and the UAE has sent a positive message to the market.
The stock market rose rapidly due to the increase in foreign exchange reserves and investors’ confidence has been restored, he added.
Saqib Rafiq said that maximum facilities should be provided for setting up factories, including land on lease, minimum regulatory documentation and NOC’s early approval will increase domestic and foreign investment.