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Pakistan has invited British Investors for participation in the potential
investment sectors of economy including Oil & Gas, Information Technology &
Telecom, Power, Mining, Finance, Textile and Industry. Dr. Abdul Hafeez Shaikh,
Federal Minister for Privatisation & Investment indicated these areas while
addressing the Pakistan Trade & Investment Conference: The New Frontier opened
at London today under the auspices of Board of Investment in collaboration
with the Pakistan High Commission, Britain Trade & Investment Forum, UK (PBTIF)
and Pakistan Business Advisory Group, Pakistan (PBBAG), says a message
received from London.
Dr. Shaikh said that United Kingdom was a most significant contributor to
Pakistan's economy and there was a need to further deepen the economic
relationship between private sectors of both the countries. During the last
four years Pakistan had introduced structural and stabilization reforms
measures to improve the governance and political reforms, which had resulted
in the positive macro- economic indicators and had made Pakistan a safe haven
for the investors from around the globe, he said.
While making a detailed presentation regarding investment and privatisation
opportunities in Pakistan to the delegates of Pakistan-Britain Investment
Conference, the Minister stated that all economic sectors in the country were
open for FDI with a level playing field for the local and the foreign
investors, having no restriction on the quantum of equity and the attractive
incentives including remittance of royalty, capital, profit and dividends,
which fully protected foreign investment in the country.
He further stated that the consistency and continuity of economic, trade,
investment, privatisation and other policies had generated the interest and
boosted the confidence of the investors. Active cooperation with World
community, improving relations with the neighboring countries and betterment
on the law and order situation were the key factors, which allowed foreign
investors to take advantage of investment and privatisation opportunities in
Pakistan, he added.
Giving the details of the improving economic scenario Dr. Hafeez Shaikh
informed that there was 100 % increase in Forex reserves, 65 % in FDI, 20 % in
imports and exports, revenue stood with 14 % increase, stable exchange rate,
5-6 % GDP growth and the best performing Capital Markets in the region. 84
British companies were operating in various sectors of Pakistan's economy,
which required to be increased to further strengthen economic, investment and
trade relations of both the countries, he said.
The Conference also focused the opportunity for Pakistani entrepreneurs to
enhance their business relationship with the British Business Community.
Around 80 private sector business delegates from Pakistan participated in the
event.
Mr. Charles Jamieson, Chairman Pakistan Britain Trade and Investment Forum who
is also Chief Executive of Premier Oil opened the Conference while Mr. Mike
O'Brien, British Minister of State for Trade, Investment and Foreign Affairs
also spoke on this occasion. The delegates discussed I T, Telecom, Textile
sectors, the legal/ taxation scenario and the Capital Markets Opportunities in
Pakistan.
The Conference also held two panel discussions to discuss the key issues and
multinational successes in Pakistan participated by Pakistan's Minister for
Privatisation & Investment, Dr. Maleeha Lodhi, Pakistan High Commissioner to
UK, Mr. Martyn Lewis, Mr. Farhan Bokhari of Financial Times UK, Mr. Mohni
Verma, CE, Veetee Rice, UK, Mr. Vince Haris, CE, Director Asia-International
Power/ HUBCO, Sir, Anwar Pervez- Chairman and Chief Executive Bestway GSK-tbc,
Mr. Martin Chrisite Director External Affairs BHP Billiton and others.