The federal government has decided to carry out necessary legislation to give protection to foreign investment in future, reported 24NewsHd TV channel Saturday.
According to parliamentary sources, a bill has been drafted in this regard that also aims at protecting investors from unnecessary court proceedings.
The sources said the legislation will be carried out in light of the apex court’s observations made during the hearing of the presidential reference on the Reqo Dik agreement.
The sources said the investors will get protection from unnecessary hassles after the enactment of the Foreign Investment Protection Bill and the legislation will provide a safe environment for foreign investors in the country.
The decision to enact the legislation was prompted by growing complaints from foreign investors, the parliamentary sources added.
The sources added that the consultations were on whether to table the bill first in the Senate or in the National Assembly.
Reporter: Usman Khan