Business Initiative Leading Development (BUILD) has underscored the need for simplifying the existing policies and unlocking regulatory barriers to attract more foreign investment in the country, reports BSS.
BUILD Trustee Board Members, led by BUILD Chairperson Abul Kasem Khan, came up with the observation on Wednesday while paying a courtesy call on Principal Secretary to the Prime Minister Dr Ahmad Kaikaus at Prime Minister’s Office in the city, said a press release today.
Ahmad Kaikaus said Private Sector Development Policy Coordination Committee (PSDPCC) needs to suggest investment friendly policies for the economy.
“Capital market is the alternative funding sources of our economy. So, more effective policies should be taken for the capital market,” he added.
He appreciated the role of PSDPCC and mentioned that it is truly a unique platform to facilitate the private sector growth more effectively and the PMO will continue to assist and support it.
Kaikaus said that the collective efforts between the government and the private sector need to increase as the economy is reaching middle income status.
He further said that the country’s dynamic private sector is playing the key role that accounts for about 78 percent of GDP of the total economy. “The government will further facilitate for improvement of business, industry and trade,” he added.
Abul Kasem Khan said, “We need policy simplification, unlocking regulatory barriers to attract more investment for increased job creation. We need to reduce our dependency on banks with alternate source of funding particularly our capital market needs to be re-energized for long term financing.”