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Foreign investors’ delegation visits LTU

Foreign investors’ delegation visits LTU

KARACHI: An investor delegation headed by Dr. Talat Mahmood and consisting of Ludwig Schwegmann and Dr. Andreas Waldraff from Germany and from Pakistan Qazi Sajid Ali, Noordin Karim and Ines Chabbi visited FBR LTU office Karachi.

Chief Commissioner Rehmatullah Khan Wazir, Commissioner Nosheen Javed Amjad and their team gave briefing on the tax structure and incentives to foreign investment. Rehmatullah Khan Wazir welcomed the delegation and said that the government of Pakistan is fully committed to provide all the facilities to foreign investors.

He said that FBR is working in the most transparent manner and providing speedy services to foreign and domestic investors. Wazir said that there has been not a single complaint from the foreign companies for the last two years regarding tax department. Nosheen Javed said that FBR is providing extra support to women entrepreneurs.

Dr. Talat Mahmood, who is the President of Pakistan Forum of Asia/Pacific Forum Berlin, said that we have been trying hard to bring foreign investment from Germany. The present delegation intends to set up a 50 megawatts solar project in Pakistan with an initial investment of around 80 million euro.

Ludwig Schwegmann said that in contrast to other countries we find Pakistan a favourable place for investment. Dr. Andreas Waldraff said that they are assessing and evaluating the government guarantees and planning procedures. He said that he finds Pakistan very different than the perception.