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There exists vast scope for Eritrea to share Pakistan's expertise and the
experience in the wake of liberal investment regime and the private sector
role in the development of Pakistan's economy.
Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation & Investment stated
this during a meeting with the visiting President of Eritrea H.E Mr. Issalas
Afwerki here today.
Elucidating the salient features of Pakistan's investment and privatisation
policies, Hafeez Shaikh said that the government role was being restricted to
policy framing while investment was being encouraged in every sector by the
domestic and the foreign private sector.
The Minister while giving an overview of Pakistan's economic achievements said
that the consistency and the continuity of the country's economic policies
increased Foreign Direct Investment (FDI) from US $ 500 million to US $ one
billion during the past five years, which was further increasing.
The trade volume has increased a lot while through privatisation process the
government has realized Rs.75 billion in the last two years, he added. Dr.
Hafeez Shaikh informed the distinguished guest that major portion of FDI was
made in the Oil & Gas, Financial, I.T and Telecommunication sectors.
The President of Eritrea while appreciating Pakistan's economic development
said that Eritrea's mining and fishing industries have the potential for
investment, which was being made conducive by creating environment and said
that he would hold discussions with the private sector to explore
opportunities in their region. Dr. Hafeez Shaikh remained with the
distinguished guest for some time and discussed other matters of mutual
interest. Pakistan's envoy to Eritrea was also present during the meeting.