American businesses are reluctant to invest in Pakistan due to political instability and complicated judicial system along with inconsistent taxation policies.
This view was shared by a participant of the Pakistani delegation which attended the ‘2017-Select USA Investment Summit’ in Washington last month.
The Pakistani delegation, led by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zubair Tufail, met with Under Secretary for International Trade US Department for Commerce Israel Hernandez.
The participant told Dawn that about 1,200 delegates from around the world attended the summit. The largest delegation of 200 members came from China, followed by Japan 130, while India and Taiwan comprised 100 each. The Pakistani delegation comprised only 10 members, he added.
Mr Hernandez discussed the issues faced by US investors going to Pakistan.
The delegation was informed that a complicated judicial system and frequent and unstable taxation policies of the Federation Board of Revenue (FBR) were other major factors which discourage US investment from going to Pakistan.
He further expressed dissatisfaction over the performance of Board of Investment and other Pakistani departments, suggesting they get the house in order.
Mr Hernandez briefed the Pakistani delegation about the incentives and facilities being offered by the US to attract foreign investors.
