STOCKHOLM, July 6: Urging the Swedish industrialists to invest in Pakistan, President Gen Pervez Musharraf said on Tuesday described the country as one offering plenty of business-friendly opportunities.
He was addressing a breakfast-meeting with the representatives of Swedish business community hosted by the Swedish Trade Council here on Tuesday on the final day of his three-day visit to the Scandinavian country.
The meeting was chaired by Ulf Dinkelspiel, president of the council and was attended by members of the Pakistani delegation, including Federal Industries Minister Liaquat Ali Jatoi, parliamentarians, Foreign Secretary Riaz Khokhar, Information Secretary Syed Anwar Mahmood and Ambassador Shahid Kamal.
President Musharraf informed Swedish investors about several sectors which have been opened up to attract foreign investment and said the investors were free to take home 100 per cent profit and dividends.
He appreciated the 20 Swedish companies working in different fields in Pakistan and said these firms were playing a positive role in the progress and development of the country.
"All economic sectors are open in Pakistan for foreign investments and there is no restriction on the remittance of their capital." The president assured the Swedish business community of the continuation of the government's economic policies and said that consistency would be maintained at all costs.
He said Pakistan was proceeding ahead with privatisation of state-owned entities and has started the process of deregulation. In this regard, he mentioned the impending privatisation of the Oil and Gas Development Corporation, Pakistan State Oil, Pakistan Telecommunication Company and its subsidiary Ufone and regional electricity distribution companies.
The president said most attractive sectors for investment was the automobile engineering, agro-based industry, including food processing and chemical sector as well as mining and energy sectors. The president said that a number of incentives were being provided to investors, including reduction in cost of business, low interest rates and reduced energy tariff.
He said a number of industrial estates had sprung up with full infrastructure. Furthermore, he said, Pakistan had a large pool of high- skilled human resource which was much cheaper by comparison with other neighbouring countries. -APP
