LAHORE, Feb 21: Unethical business practices, freezing of the foreign currency accounts (in May 1998), and the current regional situation had worked together over the years to “sully the country perception of Pakistan.”

This was stated by Canada-Pakistan Business Council president Anwar Merchant while speaking to businessmen here at the Lahore Chamber of Commerce & Industry on Thursday. Merchant is leading a delegation of Canadian businessmen and investors interested in doing business with Pakistan.

Merchant said it was wrong to suggest that Pakistan had a bad image (among the foreign investors and businessmen) because of any single factor. Various factors had worked together to tarnish the image of the country.

However, he conceded, the present investment climate in the country was better than at any other given time in the past. He said his delegation had signed two MoUs and several (business) agreements with the Pakistani entrepreneurs during the visit. But he did not divulge the details of the deals struck by the delegation.

Merchant stressed upon the local businessmen to make concerted efforts to increase their market access and refrain from “mixing business with pleasure during their foreign trips.”