Pak govt takes measures for attracting investment in NWFP

Peshawar: NWFP Minister for Finance Hamayun Khan said that the government was taking measures to encourage both local and foreign investors to invest in the province to overcome the problem of job opportunities and scores of other fiscal related issues.

He said, 'We would give incentives to private investors so that they invest their money in the NWFP province.' The Minister said that NWFP government was trying to create investment-friendly environment in the province by restoring lasting peace.

He said that law and order situation in the province was main hurdle in the way of investment. He said that the NWFP province was facing a big problem of unemployment, and jobs could be created with the establishment of industries. Hamayun said that the government has chalked out a plan for establishment of Reconstruction Opportunity Zones (ROZs) in a meeting held recently.

The meeting was co-chaired by Governor Owais Ahmad Ghani and Chief Minister Ameer Haider Hoti. Representatives of Sarhad Chamber of Commerce and Industry (SCCI) and Tribal Chamber of Commerce and Industry (TCCI) had attended it wherein it was decided that extra space would be created for establishment of industries in the industrial estates of the province with US funds for the ROZs.

The Minister said that with the establishment of the ROZs, the province would make progress, as more job opportunities would be created. He said that government would invest NWFP employees' funds in the BMA projects. 'We have constituted a committee in which all stakeholders would be involved to ensure judicious utilisation of the employees funds,' he added.

Earlier, Chief Executive Officer of BMA, Junaid Iqbal, highlighted measures the company has taken for investment in the NWFP employee's funds. He said that the company was established in 1992 with the intent of becoming the first professionally managed brokerage house and corporate finance and advisory firm in Pakistan.

He said that BMA currently has six core areas of business, which include Capital Markets, Corporate Finance and Advisory, Asset Management, BMA Trade, Private Equity and Research.

The firm offers its services to a large and diversified group of clients including top financial institutions, local business groups, multinationals, high net worth clients and the Government of Pakistan, he said. 'The firm enjoyed a high degree of credibility with international fund managers investing in Pakistan from the outset as well,' he added. He said that BMA plans to grow into new lines of business with the aim of reinforcing its corporate financing platform in Pakistan.