The Boeing Company, which was to invest over $5 billion in Pakistan in avionics, has delayed its investment due to what it described as unfavourable policies in the country.
An official source stated, “We have not scrapped the project completely but are waiting for a congenial investment environment to launch it.”
Boeing was preparing to set up a plant in Attock, Punjab, to manufacture spare parts for civil as well as military aircraft. In 2006, Boeing had signed agreements with the government of Pakistan to set up the project.
According to 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.