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The pro business policies, healthy macro economic indicators, continuous
regime of policies and Pakistan's best performing economy in Asia offer
attractive opportunities in all the sectors to the foreign investors with out
any distinction of nationality. Dr. Abdul Hafeez Shaikh Federal Minister for
Privatisation & Investment stated during a meeting with the visiting Belgian
Trade delegation from Walloon Region of Belgium, led by Ms. Silvana FLAGOTHIER,
who met him here today.
He said that efforts were being made to bring in quality players from the
private sector for the economic growth and efficient services. Over 600
multinational companies were operating in Pakistan and new collaborations were
emerging between the public and private sectors, which indicated that it was a
good time for investors to come forward and invest in Pakistan as there was no
restriction on the quantum of equity, joint ventures with local partners,
taking out dividends or capital, he added.
Dr. Abdul Hafeez Shaikh further stated that the government's commitment to
the market economy and recent SAARC Trade Agreement, Preferential Trade
Agreements with Iran and interaction with ECO countries were encouraging signs
as regard to the foreign investment and foreign investors confidence in the
economic policies of Pakistan, which had shown an increase of 65 % during the
last year.
He stated that we were moving forward and our privatisation program was
gaining momentum with nearing the completion process of some big-ticket
transactions and exposing opportunities to the investors. The investment
friendly atmosphere together with generous tax concessions, easy access to the
growing markets in the Middle East and Central Asia and well-identified areas
for profitable investments had made Pakistan a haven for investors, he added.
Dr. Hafeez Shaikh informed the delegation that Pakistan Telecommunication
Company Limited (PTCL) was being restructured and there was a possibility to
privatize U fone, a Public sector cellular company. At present three private
sector cellular companies were operating in Pakistan while enthusiastic
response had been witnessed with 33 Expression of Interest for new cellular
licenses, he added.
The leader of the Belgian Trade delegation said that the accompanying top
management members from 18 Belgian companies were exploring the investment
opportunities for well-balanced trade between the two countries. Belgium
provided a largest market for Pakistani products, which was evident from the
increase in exports from Pakistan, she added.
The delegation members while appreciating Pakistan's trade and investment
policies informed that the Telecom, Pharmaceutical, Container Terminal,
Insurance were the interested areas for Belgian traders and they had signed a
project with Lahore City Government for Waste Management Project, to be
completed in next twelve months while another deal had also been signed during
the current visit for producing pharmaceutical products in Pakistan.
Mr. Renault the Belgian envoy to Pakistan accompanied the delegation.