The Senate on Friday passed “The Foreign Investment (Promotion and Protection) Amendment Bill, 2022” in order to promote foreign investment in the country.
The bill was presented by Finance Minister Ishaq Dar.
Chairman Sadiq Sanjrani said the bill will help bring foreign investment into the country, especially in Balochistan. He felicitated the present and previous governments for their work towards this end.
The government’s decision to legislate to protect foreign investment in the country in the future came after its experience with the Reko Diq project.
The Foreign Investment Protection Bill would protect investors from unnecessary hassle and court proceedings, and provide a safe environment for foreign investors in the country.
The decision to enact the legislation was prompted by growing complaints from foreign investors, according to sources.
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The Senate also unanimously adopted a resolution felicitating Qatar’s Emir Tamim bin Hamad Al Thani and its people for successfully hosting the FIFA World Cup 2022 in the country.
The resolution moved by Senator Sarfraz Bugti stated that arrangements for the world cup were exemplary. It further said Qatar has provided the best available facilities to visitors and all teams.
It said that the House condemns all deliberate, malicious and negative propaganda instigated against Qatar for holding this successful event.
The resolution added that the people of Pakistan are proud of the State of Qatar and its people as it is the first Muslim and Gulf state to host the FIFA World Cup.
Qatar has faced criticism on the basis of its treatment of migrant workers and the lack of rights for women and the LGBTQ community.
Pakistan, however, has stood in solidarity with Qatar. Prime Minister Shehbaz Sharif had also condemned the “barrage of propaganda” against the country hosting the FIFA World Cup.
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