ISLAMABAD, Dec 16 (APP): The Senate has passed the Foreign Investment (Promotion and Protection) (Amendment) Bill, 2022 with majority vote which was presented by Finance Minister Muhammad Ishaq Dar on Friday.
As per amendment, it shall only apply to the qualified investment of Reko Diq project as mentioned in the schedule and annexure of the Foreign Investment (Promotion and Protection) Act, 2022.
According to the statement of objects and reasons, the purpose of this subject amendment is to clarify the scope and application of the Foreign Investment (Promotion and Protection) Act, 2022 (XXXV of 2022).
After smooth passage of the Bill, Senate Chairman Muhammad Sadiq Sanjrani said that it was a good legislation as it would bring a huge fortune in the shape of foreign investment for the Balochistan province besides Pakistan.
He further said that it would yield more fruits, particularly for the Chaghi district.
