*KARACHI: Prime Minister’s Adviser for Trade and Industry Abdul RazzakDawood said that 100 per cent foreign ownership policy of the governmentallowed in legal entities incorporated in Pakistan remains unchanged.*
This he said in his recent meeting with members of Overseas InvestorsChamber of Commerce and Industry here in Karachi.
The adviser clarified that in order to encourage multi-national companiesto set up joint ventures (JVs) with local partners, the government wouldneed to give some incentives.
Mr Dawood announced that soon a new industrial policy and national tariffpolicy would be announced in consultation with each sectors and alsoassured that the federal government was focused on improvinginterprovincial coordination.
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He also underlined the need for large foreign investment in themanufacturing sector to promote value-added exports and importssubstitution.
“A level playing field would be given to existing and new local and foreigninvestors,” the adviser said.
