950806

Pak-Norwegian

board to discuss

joint venture

areas this month

RECORDER REPORT

KARACHI: The first meeting of a high-powered board is scheduled to be held in Islamabad this month to follow up the agreement signed on July 30 between the Governments of Norway and Pakistan to provide financial and logistic support to the Government of Pakistan for a period of three years for joint ventures between the productive sectors of both the countries.

For this purpose a three member board had been constituted in the Board of Investment (BOI). The board will comprise the representatives of the Board of Investment, Government of Norway, and representative of the Federation of Pakistan Chambers of Commerce and Industry.

The representatives of government of Norway and FPCCI would identify areas in the manufacturing sectors of both the countries for entering into joint ventures.

A Joint Secretary of the Board of Investment would represent the BOI and chair the meetings of the board. The government of Norway has already nominated their representative on the board.

The BOI has asked the FPCCI to immediately nominate their representative who should essentially be an industrialist.

Although no firm date has been fixed so far, the meeting of this board is scheduled to be held in Islamabad this month to deliberate agenda items, including appointment of a Pakistani consultancy firm, budget for next six months seven-day visit (on government of Norway's expense) of the members of the board and Pakistani consultant to Norway for familiarizing with the Norwegian production processes, management skills, and corporate culture, etc. during the first or second week of September.