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| March, 15 2005 | Tuesday | 4 Safar 1426 |
Saudi prince briefed on economic policies
ISLAMABAD, March 14: Pakistan is destined to become a “second Malaysia” if it continues to pursue its current economic policies with consistency and maintains the pace at which they are being implemented.
These remarks were made by Prince Walid bin Tallal bin Abdul Aziz of Saudi Arabia after a presentation given to him by various federal and provincial government organizations for identifying investment opportunities in different sectors, at the Prime Minister’s Secretariat here on Monday.
Prince Walid evinced keen interest in the presentation and expressed his readiness to invest in some projects in Lahore, Karachi and Islamabad after their proper evaluation in the next three to four months. He also assured that his group would explore avenues for participation in the privatization process.
Speaking on the occasion, Prime Minister Shaukat Aziz said that Pakistan had great economic potential along with rich cultural and historical heritage. “It holds great promise for any potential investor. The government has ensured political stability, improved law and order and created necessary conditions conducive for investment in the country,” the premier emphasizes.
“Facilities are being offered in an organized and transparent manner and these are comparable to the best practices in the world,” he added. Pakistan, he said, was in a “high mould” of growth that was expected to reach eight per cent in the next couple of years. Mr Aziz said the government would continue to provide a level-playing field for both local as well as foreign investors.
Earlier, Dr Abdul Hafeez Shaikh, Minister for Privatization and Investment, gave an overall resume about the privatization process and identified various projects being privatized by the government.
The presentations were made by the government of Punjab, the government of Sindh, the Capital Development Authority, State Life Insurance Corporation, Army Welfare Trust, Civil Aviation Authority, and ministries of defence, railways and foreign affairs.