September 16, 2021: German business delegation called on the Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, at the Finance Division Yesterday. The delegation comprised of the representatives of leading German enterprises.
The Ambassador of Germany to Pakistan H.E. Mr. Bernhard Schlagheck accompanied the delegation. Secretary BOI and representatives of OICCI also participated in the meeting. The visit comes on the occasion of 70th anniversary of establishment of diplomatic relations between the two countries.
While extending a warm welcome to the delegation, the Finance Minister stressed upon the German investors and businessmen to further strengthen business and economic linkages between the two countries. He highlighted the salient features of Pakistan’s investment policy.
The policy envisages attracting further foreign direct investment and providing full support and facilitation to the foreign investors. The Finance Minister apprised that Pakistan’s economy is coming out of consolidation phase and is presently in a state of growth. The objective is to steer economy towards an inclusive and sustainable economic growth with key focus on bottom-up approach as envisaged by the Prime Minister.
At present, the Government is proactively executing all policy measures to achieve the major socio-economic targets of the current financial year. Furthermore, the Government is all set to launch “Agricultural Transformation Plan” to boost agricultural productivity. Micro credit will be extended to the farmers at grass root level to procure agricultural inputs and farm machinery.
Similarly, loans will be disbursed to pave way for enabling infrastructure like construction of agri malls, storage facilities and commodity warehouses in order to ensure due share to farmers and to stabilize prices of the items of daily use.
The Minister also underlined the pace of development in Special Economic Zones (SEZs) which will provide lucrative incentives and attract FDI. He encouraged German investors to invest in SEZs to enhance the volume of trade and investment between the two countries. He invited German companies to use abundant and talented human resource available in the country to make Pakistan their exporting base.
The Finance Minister also welcomed the development that Lufthansa is planning to resume its flight operations in Pakistan. The German delegation appreciated the warm hospitability extended by the Finance Minister and stated that there is a vast scope for enhancing bilateral trade, investment and business ties. The German delegates also discussed the possibilities of increased business collaboration in the fields of agriculture, renewable energy, e-commerce and IT.
In his concluding remarks, the Finance Minister stated that investor facilitation is being paid special attention and incumbent Government is firmly committed to provide conducive environment for encouraging foreign investment from all over the world. He affirmed full support and facilitation for German enterprises on the occasion.