News sources said that on Monday, August 15, Prime Minister (PM) Shehbaz Sharif set up committees to deal with the problems and concerns of foreign investors in the Gwadar Free Zone. In 10 days, the committees will look into the problems and problems that investors face and give a full report to the cabinet.
Read more with EL news: FBR exempts developers and builders from annual registration renewal
Reports say that the premier told the government to make special plans to deal with the problems and issues of all Chinese businesses as a priority, including visa barriers. On this occasion, the prime minister was told that foreign companies are willing to spend USD 10 billion on projects related to energy, roads, railroads, ports, and other infrastructure. The planned projects would create 45,000 jobs and raise Pakistan’s ranking in the Ease of Doing Business (EODB). In this way, USD 2 billion will be spent during the first phase.
Also, at the cabinet meeting, the Ministry of Law and Justice’s Government Commercial Transaction Act was approved, and it was suggested that it be sent to the right parliamentary committee for more review and approval. The new draught of a law would let the government do government-to-government (G2G) transactions. This would make it easier for international investors to trust Pakistan and encourage them to invest there.
It is important to remember that the first draught of the G2G policy was made by the government in July. This was done to increase the number of transactions in a short amount of time without the need for long approvals.