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Boeing puts investment in Pakistan on hold
ISLAMABAD: The Boeing Company, which was to invest over $5 billion in Pakistan in avionics, has put on hold its investment due to what it said unfavorable policies of the present government.
An official concerned with the project said, "We have not scrapped the project completely but are waiting for a congenial investment environment to launch it."
Boeing was planning to set up a plant in Attock, Punjab, to manufacture spare parts for civil as well as military aircraft.
The official told Arab News Boeing Company had acquired over 5,000 acres of land in Attock for the plant. "The decision to go ahead with the project or scrap it rests with the authorities in Seattle," said the official.
In 2006, Boeing had signed agreements with the government of Pakistan to set up the project.
ISLAMABAD: The Boeing Company, which was to invest over $5 billion in Pakistan in avionics, has put on hold its investment due to what it said unfavorable policies of the present government.
An official concerned with the project said, "We have not scrapped the project completely but are waiting for a congenial investment environment to launch it."
Boeing was planning to set up a plant in Attock, Punjab, to manufacture spare parts for civil as well as military aircraft.
The official told Arab News Boeing Company had acquired over 5,000 acres of land in Attock for the plant. "The decision to go ahead with the project or scrap it rests with the authorities in Seattle," said the official.
In 2006, Boeing had signed agreements with the government of Pakistan to set up the project.
