LONDON, July 26: Federal Production and Industries Minister Liaqat Ali Jatoi said on Monday the multinationals in Pakistan were making 40 to 50 per cent profit and none of them had withdrawn their investment hence the British investors
should not be misled by the misperception about the security situation in the country.
Addressing a press conference at Pakistan High Commission here on Monday afternoon, Jatoi dispelled the concerns about the law and order situation and said multinationals like ICI, Shell, Liver Brothers along with many others, continued to do their business as usual.
Urging the UK investors to utilize the investor- friendly ambience and the incentives being offered by Pakistan, he said, the realities on the ground were far better and different than what was being depicted by the media.
Answering a question, he said the profit of the Export Processing Zones Authority (EPZA) was soaring every year as it rose from $129 million last year to $200 million this year. EPZA is looking forward to a target of $500 million during the current financial year, he said.
He said the EPZA road shows were to attract the foreign investment in EPZA and appealed the overseas Pakistanis to invest their capital in the country of their origin.
Jatoi said with 7.1 industrial growth, 10 per cent growth in textile sector and with GDP of over 6 per cent the country was poised to achieve more progress in the future.
All the macro- economic indicators have shown it had achieved the economic stability as a result of the far-reaching economic reforms introduced by President General Pervez Musharraf as part of his economic revival programme.
The elected government, he said, had continued these policies as these were tailored-made to the interest of the country and had helped it come out from the economic crisis.
The Foreign Exchange Reserves now stood over $12 billion, exports had surpassed the figure of $10 billion for the first time, which indicated success of the current economic policies of the government.
Jatoi told a questioner that there was no political uncertainty in the country and the elected institutions both at the federal and provincial levels were operating smoothly following fair and free elections.
He said it was President Musharraf's economic policies and the sagacity of his economic team, led by Finance Minister and Prime Minister in-waiting Shaukat Aziz which had brought about an economic turn -around.
Women have been given special role in running affairs of the country. There were 76 women MNAs in the National Assembly and 41 thousands elected women councillors, which were playing an active role in the development of the country. -APP
