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Dr. Yousef Al-Zalzala, Former Minister of Commerce and Member of Parliament
of the State of Kuwait along with a two-member delegation called on Mr. Zahid
Hamid, Federal Minister for Privatisation and Investment here today.
Mr. Zahid Hamid briefed the delegation regarding the privatisation and
investment polices and said that there are numerous investment opportunities
in Pakistan and all economic sectors were open for 100% foreign equity and
investors were free to transmit as much profit or equity without any
permission. He said that Pakistan’s GDP growth is exceeding 7%. He assured all
support and assistance from Government of Pakistan to Kuwaiti Investors.
The Minister presented the macro economic indicators, which were improving
every year and also briefed them regarding increasing FDI inflows, which
touched the record level of US $ 3.5 billion in year 2005-06 and this upward
trend was being witnessed during the current fiscal year July 2006-January 07,
which stood US $ 3.6 billion including US $ 2.1 billion direct investment, US
$ 697 million portfolio investment and US $ 811 million of OGDCL GDR proceeds.
This trend is continuing and will set new FDI record by the close of this
fiscal year. He also briefed them about the investment opportunities in
various sectors with special reference to PSO and PPL Privatisation.
Both sides emphasized on translating the excellent brotherly relations with
identity of views on all issues and cultural affinity between Pakistan and
Kuwait into an equally strong economic relationship. They also agreed on
further improving the investment climate beneficial to both the countries and
to facilitate business groups of both the countries.