KARACHI : Investment climate in country termed excellent
KARACHI, March 27: Senate Chairman Mohammedmian Soomro has said that Pakistan is offering big investment opportunities to investors and entrepreneurs under the economic policies being pursued by the present government.
“The exhibitions and conferences being participated by foreigners in large numbers, and visits by foreign delegations and investors to the country give an ample testimony to the fact,” he said.
Mr Soomro was speaking at the Networking Dinner hosted at the Governor’s House here on Saturday night in honour of the local and foreign participants of the ITIF Asia-2005 exhibition and conferences. The exhibition is under way at the Expo Centre here.
“The potential available is amply visible, and for creating such an environment here, I thank the entrepreneurs, the governor and chief minister, as well as all those who matter in this respect.”
Pakistan is definitely a large market with growing population, rising income and buying power, cheaper labour, simplified laws and regulations, judicial system, consistency of policies, availability of infrastructure and less production cost, besides available market potential and everything that an entrepreneur would like to seek for making investment.
All these aspects have been addressed and would continue to be focused upon by the government.
The senate chairman noted with delight that people were now taking advantage of the growing opportunities. “We are looking at every aspect and would ensure that investors are fully accommodated and their plans are facilitated.”
He pointed out that Pakistan’s economic growth rate was consistently rising and had reached at seven per cent this year.
In the agriculture sector also, he added, there was tremendous potential as it was in other sectors like oil and gas, banking, power generation, mines, minerals, dairy, etc.
Earlier, Governor Dr Ishratul Ibad spoke about numerous incentives provided by the government to local and foreign businessmen for investment in the country’s manufacturing sector and towards promotion of exports.
The government is encouraging the production of low skill, labour-intensive, dynamic products with respect to global demand and productivity potential which is, in fact, our great strength.
Besides, the government promotes the export of value-added products and expansion of production capacity of industrial goods to cater to the requirements of the international market.
Dr Ibad pointed out that the Sindh government was also geared up to provide maximum facilities to local and foreign investors interested in various business and industrial sectors in Sindh and help them take maximum advantage from the numerous opportunities already available and also those yet to be explored.
He said that the ITIF Asia had not only played an important role in the development of the country’s manufacturing sector, but had also contributed significantly to the economic development of the whole province.
Speaking on the occasion, Chief Minister Dr Arbab Ghulam Rahim appreciated the holding of the exhibition in Sindh, and announced that his government would extend all possible cooperation in promoting the country’s technological innovations.
He told the audience that an Investment Cell had also been established at Chief Minister’s House for proper coordination with investors. The issues like allotment of land to the investors coming to Sindh and any problems they could face will be looked into and resolved on preferential basis, he added.
He spoke about the ‘land mafia’ active in Karachi, and said that the state lands in its illegal occupation would be retrieved and allotted to investors.
He pointed out that he and the governor working together had brought improvement in law and order in Sindh. The situation would be improved further, he added.
Referring the successful experiment of the community policing system, started from Bahadurabad during the tenure of Mohammedmian Soomro as governor, he suggested that industrialists should introduce the same in their respective industrial estates.
Earlier, Sindh Minister for Labour and Industries Mohammed Adil Siddiqi presented the welcome address and highlighted the government’s policies for economic and industrial promotion.
He emphasized on pursuing a strategy to ensure success in the competition among developing countries for world market shares.
Later, the senate chairman presented acknowledgment plaques to the governor, chief minister, labour minister and others. Dr Ibad also presented a plaque to Mohammedmian Soomro.—APP
