ISLAMABAD, April 19: Federal Minister for Industries and Production Liaquat Ali Jatoi has said utility charges will be rationalized in the upcoming budget of 2004-05 to encourage investment in the country.

This he disclosed in a meeting with a 10-member business delegation led by Confederation of Asia Pacific Chambers of Commerce and Industry Chairman K.K. Modi and Islamabad Chamber of Commerce and Industry President Zubair Ahmed Malik here on Monday.

The minister said the next budget would be investment- friendly to meet the new challenges of the global market. He also assured the delegation of full support for granting more incentives to the investors, besides provision of all possible facilities to the foreign investors.

Mr Jatoi told K.K. Modi that decision about the negative list would be taken up in the cabinet meeting and all the parties concerned could participate in the meeting.

The delegation was of the view that opening of border with India would provide an opportunity to the traders of the region to come closer to each other. The industries minister also briefed the delegation about the Pakistani economy. He said Pakistan was in take-off position and the situation at present was very conducive for foreign investment.