February 25, 2003	Tuesday	Zul Hijjah 23, 1423

ISLAMABAD, Feb 24: Pakistan will organize single country exhibition in Bahrain next month to introduce its products and attract foreign investment.

This was stated by Industries and Production Minister Liaquat Ali Jatoi in Bahrain, while talking to Pakistani entrepreneurs and potential investors of Bahrain during a meeting.

According to a press release issued by the ministry, the minister said the investment friendly atmosphere being developed in Pakistan, where tariff was being rationalized reducing it to 5 per cent from 35.

Mr Jatoi further explained that Gawadar was being developed incorporating best facilities available so for. He promised that legal cover will soon be provided to the investors. Committees will be constituted to dispose of investment litigation as quickly as possible.

He also elaborated that Pakistan was committed to resolving investors’ problems by replacing old system with improved investors friendly conditions.

Speaking on the law and order situation, Mr Jatoi said the prime minister had clear orders of zero tolerance viz-a-viz law and order.

Referring to tax reforms, Mr Jatoi added that PM’s adviser on finance Shaukat Aziz had already undertaken the task for constituting tax liberalization reforms.

Prospects for attracting investment in the construction of five star hotels were bright; manufacturing of Toyota, Honda Atlas and allied projects were some of the success stories of Pakistan.

The development of human resources was another sector, which makes Pakistan investment friendly because of availability of skilled and unskilled labours.

Multinationals were taking full advantage of the situation. In spite of geopolitical constraints Pakistan achieved $9 billion export target and its reserves are heading towards the $10 billion mark, he added.

He said Pakistan was advancing in high-tech industry as well. It was evident in the production of indigenous satellites, trainer Mushaqs and ship building.