October 31, 2001	Wednesday	Shaba'an 13, 1422

Please Visit our Sponsor (Ads open in separate window).

ISLAMABAD, Oct 30: The federal government has directed all the ministries to prepare investment plans and feasibility studies of viable medium and large-sized projects in the country to seek foreign investment.

The finance ministry has already had initial discussions with the Trade and Development Agency (TDA) on the subject and has been assured by US authorities that active participation of US companies in investment projects in Pakistan would be ensured.

Finance ministry sources said the US Exim Bank and Overseas Private Investment Cooperation (OPIC) would provide all necessary funding for projects in oil and gas, energy, information technology, railways, textiles, communications and infrastructure.

Finance ministry officials said that revival of foreign investment in the next couple of years, particularly from the United States, would be a real achievement for supporting the international community against terrorism, besides debt reduction.

“Two meetings with all the ministries have already taken place to firm up investment plans and they are now working out details”, said a senior finance ministry official.

He, however, said investors were at present reluctant to travel to that region even to India and the Middle East due to the US attacks on Afghanistan, but “we need to complete our home work before the situation normalizes.”