ISLAMABAD, March 28: Federal Minister for Privatization and Investment Dr. Abdul Hafeez Shaikh said on Monday Pakistan was open to all investors, and there was no restriction on bringing in or taking out capital. According to a handout the minister, talking to the UAE investors, said that the government was ready to facilitate investors in making investment. The investors were free to form joint ventures or establish their own businesses with 100 per cent equity while more than 600 multinational companies were successfully operating and making profits in Pakistan, which has become possible because of development at macroeconomic level and foreign investment doubled during the last three years, he said.

Dr Hafeez informed the delegation that investors from Middle East had shown keen interest in transactions such as HBL, Bank Al-Falah, KESC and were actively participating in the privatization of PTCL, PSC, OGDC, PPL, NRL, Jamshoro Power Company and other electric distribution units, which were progressing satisfactorily. In the social sector Health, education and Information Technology were the promising areas for investment, he added.

The delegation leader Mr Yousef Jameel, Chairman ALJ Group UAE briefed the minister regarding their activities in micro processing, new concept of securities in biometrics and developing new therapy in collaboration with German companies for cancer treatment and expressed keen interest in establishing cancer research activity, other healthcare areas and discussed the possibilities of taking part in the privatization of some upcoming entities. Mr David Hodgkinsom, Deputy Chairman HSBC and Mr Iqbal Khan, CEO, HSBC were among the other members of the delegation.