June 12, 2003	Thursday	Rabi-us-Sani 11, 1424

KARACHI, June 11: The Governor, State Bank, Dr Ishrat Hussain has said that economic policies have created conducive environment for investment in the country.

The government had provided a number of incentives to the private sector investors and banks were ready to provide cheaper money, he said while addressing a conference on Urban Transport Scheme and Financing of Commercial Vehicles, organized by Hinopak Motors Limited (HML) on Tuesday.

The governor said that historical low rates has created great attraction for the borrowers and investors. He said the SBP is ready to formulate such policies which could develop the economy. He discussed various incentives being offered by the government for the growth of the economy.

Chairman HML, Kunwar Idris said it was necessary for the government and other public agencies to have an economical and practical approach towards improving urban transport in order to replace the individually-owned old and small buses with new and large fleets.

Managing Director and Chief Executive Officer, HML, Hideichiro Chikahiro said certain measures needed to be taken to remove the apprehensions of operators. He said the company was poised to provide same service in Sindh which had already been in vogue in Punjab.

General Manager Sales and Marketing, M.Irfan Shaikh stressed the need for legal transfer of Sindh government’s depots to City Government, Karachi. He said the company holds 70 per cent market share as 33,000 Hino vehicles are operating within Pakistan.