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HomeNationalSenate approves 'Foreign Investment' amendment bill

Senate approves ‘Foreign Investment’ amendment bill

The Foreign Investment (Promotion and Protection) Amendment Bill, 2022 was approved by the Senate on Friday to encourage foreign investment in the country.

Finance Minister Ishaq Dar presented the bill in the Senate.

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The law, according to Chairman Sadiq Sanjrani, will aid in attracting foreign investment to the nation, particularly in Balochistan. He commended both the current and past administrations for their efforts in this direction.

The government decided to enact legislation to safeguard future foreign investment in the country following its experience with the Reko Diq project.

A safe atmosphere would be created for international investors by the Foreign Investment Protection Bill, which would shield investors from pointless hassle and legal actions.

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According to local media reports, the government decided to pass the law in response to increasing complaints from international investors.

A resolution congratulating Qatar’s Emir Tamim bin Hamad Al Thani and the nation’s citizens for hosting the FIFA World Cup 2022 successfully was also unanimously approved by the Senate.

Sen. Sarfraz Bugti’s resolution praised the world cup’s arrangements as being excellent. It went on to say that all teams and guests had access to Qatar’s top facilities.

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