12 October 2004	Tuesday	26 Shaban 1425

ISLAMABAD, Oct 11: The government is keen to attract foreign investment that will prove beneficial for both Pakistan and the investor.

This was stated by Federal Minister for Industries and Production Jahangir Khan Tareen while talking to a 15 member German business delegation led by Deputy Minister for Economic Affairs and Labour Ditmar Staffelt.

The federal minister said Pakistan was pursuing a liberal industrial policy that was more competitive and conducive than those followed by other countries in the region. He was of the view that the government's primary aim was to create an investor-friendly environment, focusing on opening up the economy and market potential for foreign direct investment.

The essence of the policy is to strengthen Pakistan's competitiveness by offering fiscal and tariff relief and providing comprehensive facilitation services, he added.

The German deputy minister appreciated the economic reforms introduced by Pakistan during the last five years. He was of the view that Pakistan now offered great incentives and a conducive environment to foreign investors.

Mr Staffelt said there was a great scope for enhancement of mutual cooperation between the two countries in a number of sectors. In private-sector, businessmen are keen to invest in joint ventures in chemical industries, textile industries, medical equipment, pumps, pipelines and communication sector, he added.