Foreign investment can steer country out of economic crisis: PM

Foreign investment can steer country out of economic crisis: PM

LAHORE:Prime Minister Imran Khan said only foreign investment could steer the country out of prevailing economic crisis and the government was trying its utmost to facilitate investors by taking steps for ease of doing business.

He was addressing the inaugural ceremony of JW Forland Production Facility Park Phase-I at Raiwind.

Punjab Governor Chaudhry Muhammad Sarwar, Chief Minister Sardar Usman Buzdar, Special Assistant to the Prime Minister on Information and Broadcasting Minister Dr Firdous Ashiq Awan, PM’s Spokesperson Nadeem Afzal Chan, Punjab Industries Minister Mian Aslam Iqbal, JW Forland President Javed Afridi and Chief Executive Officer (CEO) of Ruba SEZ Group Shah Faisal Afridi were also present.

Earlier, the prime minister also inaugurated Haier Pakistan Industrial Park Phase-II.

The prime minister said the Chinese investment like the Forland Park would help Pakistan overcome the economic crisis and also prove to be a source of wealth creation.

More wealth, he said, helped generate more taxes for the government, thus enabling it to bring maximum facilities and opportunities for the people of Pakistan.

The investment, he cited, also created ample employment opportunities, which subsequently improved the living standard of common man, and in that way, a country developed and progressed.

Imran Khan said with the completion of all three phases of JW Forland, for the first time Pakistan would be manufacturing vehicles completely with each and every part made locally. Earlier, the vehicles were used to be assembled in the country only, he added.

The prime minister lauded the company’s plan of manufacturing the electric car, which, he said, would help reduce pollution, particularly in the cities like Lahore.

He congratulating the management of JW Forland that their venture would create 40,000 jobs and generate Rs 30 billion annual taxes for the government. The company in future would also be in position to export its products to bring in foreign exchange, he added.

The prime minister said through the Board of Investment, the government was making all-out efforts to remove impediments to businesses and facilitate the investors. He said so far investors had been facing hurdles like red-tapism, bribery and corruption, which forced them to move to other destinations like Dubai.

He said effective measures were also being put in place to ensure one-window facility for Special Economic Zones (SEZs).

Earlier, presenting an overview of the project, Javed Afridi said the JW Forland project would prove to be a milestone in the auto industry of Pakistan.