A Chinese delegation led by Mr. Jihongshuai Chairman,Dalian Mingyuan Holdingss Group Co.Ltd visited Board of Investment (BOI) and met with MOS/chairman, BOI, Dr. Miftah Ismail.The delegation comprised on the different sectors including Petrochemical Production, Oli Refineries, Construction, Trade, Logistics etc. The leader of the delegation appreciated efforts of BOI, facilitating their visit to Pakistan.
The MOS/Chairman welcomed the Chinese delegation, explained about general investment climate of Pakistan and highlighted importance of Chinese investment in Pakistan.
The delegation was given a detailed briefing about Pakistan investment policy, different investment opportunities in Pakistan.
Dr. Miftah Ismail, MOS/chairman, BOI encouraged Chinese side for their visit to Pakistan. He emphasized that GOP offers liberal policy incentives for the potential investors in Pakistan refining sector and No prior permission of GOP is required for setting up of new refinery project.He also added that Import parity price formula linked to Singapore Mean FOB spot price for the new oil refineries and Import of crude oil from any source subject to Price Economics after lifting local crude allocated if any. He said Refineries are free to sell their product to any marketing companies or they can set up their own marketing companies and License from Oil & Gas Regulatory Authority (OGRA) is required under OGRA Ordinance 2002.He further added that The Govt. of Pakistan has also approved following additional incentives for all new mega projects of minimum 100,000 barrels per day production capacity to be installed along the Coastal belt of Baluchistan, particularly Gwadar.At the end MOS/chairman, BOI, appreciated Chinese delegation for visiting Pakistan and BOI to further strengthen the trade & investment ties between the two brotherly countries. He assured the delegation of full support as and when needed.
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