$20mn Chinese investment in services sector welcomed

ISLAMABAD: Chairman Board of Investment and State Minister for investment, Zubair Gilani on Friday welcome the $20 million investment in Services sector in the country. “BoI is committed to support the foreign investment and also provide facilities to the foreign investment through ‘ease of doing business, he said this while meeting to the Chief Executive Officer (CEO) of integrated services company ‘Timesaco’ Donald-Li, says a Press release.
He said the BoI was working on 9, Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC) for providing one-window operation facility to the local and foreign inverters. He vowed that he will provide all possible facilities to the Information Technology (IT) sector and the government always appreciates foreign investors. He said information technology has huge potential and in future it will be largest field in Pakistan.
He offered the full support to the foreign investment and hailed efforts of integrated services company ‘Timesaco’ for establish the new taxi service “Buraq” including five other services.
On the occasion, Donald-Li appreciated role of BoI for providing guidelines and other facilities to local and foreign investors.
He also appreciated Minister of State on helping investors for speedy materialization of their projects and to enhance Pakistan’s international competitiveness to contribute economic and social development. He said, ‘Timesaco’ have establishing e-services platform in Pakistan. While he also shared Timesaco’s concept and mission for Pakistan. Donald also expressed his views on investment opportunities in Pakistan and spoke that his company is intend to invest $20 million in e-services sector of Pakistan.
He said that ‘Timesaco’ wants to empower the local investors and to create a working environment especially in IT sector. He further said that Timesaco offers five different services in Pakistan including taxi service “Buraq”, instant delivery “Fema” and City Freight “Cargo+”.
Initially, these services are available in six big urban centre including Karachi, Lahore, Faisalabad, Rawalpindi, Islamabad and Peshawar, he added. CEO of Timesaco said the company’s main objective is to provide best services in affordable rates. He said that ‘Timesaco’ offers lower price and more care for customers.
He said Buraq Taxi service will be very different from other existing players and it will be very profitable for drivers as well. Both sides, the Minister of State and CEO Timesaco talked on tax reforms and possible reliefs for foreign investors.

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