Lahore: According to the news report, Pakistanis who are living abroad and are interested in investing in Pakistan’s real estate developments have approached the BoI (Board of Investment) with a request to create a one-stop-shop or a one-window facility for obtaining necessary permits and licenses from multiple government agencies to address inconsistencies and increase the rate of investment.
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CEO Tariq Hamdi also spoke about the issue and expressed overseas Pakistanis and overseas investors’ concerns in the real estate industry. He said the investment council should be empowered to provide ample opportunities to complete all legal procedures in an expedited manner to increase investment in the sector.
Nowadays, all construction, gas, electric, and road bodies operate according to their processes and procedures to facilitate customer service. Hamdi showed that with all the different agencies like LDA, NHA, CDA, and SNGPL, foreign investors don’t know what to do. He stressed the simplification of operations as it reduces the potential for foreign investment.
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He spoke about plans to launch horizontal housing projects in all Pakistan and “specially designed tourism infrastructure in Khyber Pakhtunkhwa (KP).” However, according to him, these plans will only be realized if foreign investors feel welcomed and not “scared.”
