ISLAMABAD: German companies are seeking a level playing field for investment in Pakistan and aim to bring tariffs and taxes to the level of those given to certain other countries like China.
These observations were made by the representatives of German companies, who called on Commerce Minister Khurram Dastgir and discussed trade- and investment-related issues in Pakistan.
The German representatives complained of not enjoying level playing field for investment in terms of tariffs and taxation, an advantage that the Chinese benefit from, an officer in the ministry told The Express Tribune. They sought similar incentives be offered to them.
The companies’ officials also expressed willingness to invest in CPEC, mostly in the energy sector and free trade zones.
They informed the minister that some of their investment companies have concerns that they are being dealt with discrimination in policy matters.
The delegation further urged the government to ensure consistency in trade and investment-related issues, predictability and transparency to gain the confidence of the investors.
In response to the delegations’ woes, Dastgir said that Chinese companies enjoy incentives in trade due to the Free Trade Agreement (FTA) between the two countries. He further added that if Germany wanted similar incentives it must also shift to FTA from the GSP Plus so they could be offered special facilities, revealed the ministry official.
However, in general, the minister said that Pakistan is offering maximum incentives to foreign investors. He also assured the delegation that all such issues pertaining to trade and investment would be immediately addressed, which can be done at this stage.
Dastgir noted that the present government is successfully emerging from the dark era of the energy crisis and security challenges and both issues are being successfully handled, which is crucial for a favourable environment for investment.
Courtesy : Express Tribune