September 27, 2003	Saturday	Rajab 29, 1424

KARACHI, Sept 26: Federal Minister for Investment and Privatization, Dr Abdul Hafeez Shaikh has assured the German investors about the continuation of economic policies of the government because of the structural reforms being undertaken by the government.

Addressing a function recently on Pakistan Business Day at Berlin, he said Pakistan now deserves to be found attractive by the foreign investors owing to a liberal economic regimes such as: deregulation of telecom, banking, insurance, oil and gas, IT, social sectors, tourism and mining, no restriction on equity, free repatriation of capital and economy growth rate of five per cent.

He said Pakistan is not getting a fair deal in international media and that German investors should be sensitive to that fact.

He assured the German investors that their concerns regarding double taxation would be addressed.

German Ambassador to Pakistan, Dr Christoph Bruemmer stressed the need for both the sides to sign an agreement on avoidance of double taxation. He also called for a more favourable climate for foreign investors in Pakistan through such measures as better legal protection for investors, less corruption and less bureaucracy.

State Secretary to the German Federal Ministry of Economics and Labour, Dr Alfred Tacke said Asia would be one of the major winners of globalization as compared to other regions of the world. There would be positive effects on all Asian countries including Pakistan. Therefore, he said, a dialogue with the German business community would be beneficial for both sides.