Daily Times

LAHORE: South Punjab Forest Company (SPFC) Chief Executive Officer Tahir Rasheed has Tuesday urged overseas Pakistanis to invest in forestry industry.

He was addressing a meeting of delegation of the Overseas Pakistanis Commission (OPC) Punjab, headed by Commissioner OPC Afzaal Bhatti, where they were briefed about investment opportunities in the forestry sector.

The meeting was attended by OPC Director General Javed Bokhari, Director Administration Asad Naeem. Tahir Rasheed briefed the OPC team about investment opportunities in the forestry sector and said that the meeting was aimed at targeting foreign investments through the OPC platform

Afzaal Bhatti appreciated Punjab CM for taking a lead in this initiative. “The initiative to promote sustainable forestry investments is imperative for Pakistan’s transformation, therefore, the OPC will share this with overseas Pakistanis. Furthermore, the initiative will help boost allied industries. Even within Pakistan, people would be interested to invest in it,” said Commissioner OPC.

Tahir Rasheed also discussed the possibility of having a memorandum of understanding (MoU) with the OPC that can help streamline investments and boost investors’ confidence. Afzaal Bhatti welcomed the idea, as it will help promote green investment and create employment opportunities in the province.

Syed Javed Bokhari said a certain percentage of SPFC’s land should be allocated to overseas Pakistanis, a move that will help boost their confidence. He also urged both the organisations to collaborate for a seminar to sensitise overseas Pakistanis and potential investors about forestry initiative of Punjab government. “Our feasibility study is expected to be completed by March 2017 after which we’ll share at least 10-12 business plans with investors, and technical support will also be provided to promote forestry investments. Furthermore, the initiative will contribute to reduce the balance of payments by narrowing the demand for imported wood in Pakistan,” added Tahir Raheed.