24 July 2004	Saturday	06 Jamadi-us-Saani 1425

KARACHI, July 23: The Opec Fund, an investment arm of Organization of Petroleum Exporting Countries (Opec), has been exploring investment opportunities in Pakistan.

This was stated by adviser to the Opec Fund Dr Janusz Lukasik during a meeting with the managing director, Pakistan Industrial Credit and Investment Corporation (PICIC), Muhammad Ali Khoja.

According to PICIC sources here on Friday, the Opec Fund team discussed future cooperation in project financing with PICIC management. Sources said this was an introductory meeting where the Opec Fund adviser briefed PICIC chief about its investment activities worldwide particularly in developing country.

They said that Mr Khoja welcomed the initiative of Opec Fund and said that his corporation was ready for cooperation in financing projects in Pakistan. He said the PICIC has been the recipient of several credit line from the World Bank, ADB and Islamic Development Bank.

Mr Lukasik said that the fund was financed by Opec countries and funds were used for financing projects in developing countries. He said the fund had already financed one container terminal project in Pakistan which was sponsored by Marine Group of Companies. -APP