Govt provides conducive business environment to attract FDI: President

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ISLAMABAD, Nov 13 (APP):President Dr Arif Alvi Wednesday said the country’s investment policy had been designed to provide a comprehensive framework for creating a conducive business environment in a bid to attract Foreign Direct Investment (FDI).

Talking to Vice President, Government Relations South Asia, Royal Dutch Shell, James Hall, who called on him, he underscored that Pakistan investors friendly policy provided no restriction on remitting capital, profits and dividends.

The government welcomed the interest of Shell in new projects and hoped that the company would keep investing in Pakistan for achievement of mutually beneficial targets of economic development, the president said. 

He said Shell was one of the oldest multinationals in Pakistan and had been present in the South Asian region for over a century.

Underlining the importance of renewable resource of energy, he urged the Shell company to invest in these areas, since it had achieved a major breakthrough in this sector.  
James Hall said, “Shell has its footprint in Pakistan since the time of its independence in 1947 and has been privileged to play a vital role in the country’s progress.”

“Right from the largest natural gas discovery at Sui in 1952 to the launch of the Retail Visual Identity stations in 1995 that changed the face of fuel retailing in Pakistan, Shell has been a dedicated energy partner in the country,” he said, adding, “We are making a paradigm shift in our strategy by implementing a structured convenience retailing model for our customers across our service station network, which will be another milestone for Downstream in the country.”

He said Shell was committed to working with the government, sharing insights in energy transition and transitioning to a low-carbon future, building a sustainable energy future for Pakistan together.