INVESTMENT POLICY 2013 - Sindh Board Of Investment ...

2.3.2 SBP and SECP have relaxed equity caps for setting up of banks, life andnon‐life insurance business and for insurance brokerage companies tobring foreign and local investors at par.2.3.3 Foreign investors shall have the right to exchange the local currency intoany other freely convertible foreign currency, subject to ForeignExchange Regulations of SBP.2.3.4 There shall be no restrictions on the use of foreign private loans withinthree major loan categories as defined in SBP Foreign Exchange Manual2002 or the debt‐to‐equity ratios used to finance the foreign investmentprojects. The use of the funds if received from foreign loans shall beextended to any purpose, not limited to imported plant and machinery.2.3.5 Foreign Investors in all sectors shall be allowed to access domesticborrowing subject to prevailing rules/ regulations of SECP and SBP andobservance to Debt‐Equity ratio.2.3.6 Venture capital and private equity funds are regulated by the PrivateEquity and Venture Capital Fund Regulations, 2008 promulgated by theSECP. Foreign funds and fund managers are allowed to invest underthese regulations.2.4 Flexibility in Land and Real Estate Procedures:2.4.1 Foreign investors shall be entitled to lease land without limitation underthe rules & regulations of the concerned authority.2.4.2 There will be no limitation on the transfer of any land held by a foreigninvestor unless contractually specified in an agreement between the landholder and subject to the Federal or Provincial regulations.2.4.3 Restrictions on foreign real estate developers have been removed andnow they will be subject to the same rules and treatment as domesticreal estate developers.2.5 Agriculture Policy:2.5.1 The foreign investor is allowed to hold 60% stake in agriculture projects.2.5.2 For Corporate Agriculture Farming (CAF), foreign investor shall beallowed to hold 100% equity.12