October 04, 2006	Wednesday	Ramazan 10, 1427

KARACHI, Oct 3: Leading German firm Daimler Chrysler is open to look to “reasonable, feasible and commercially viable” projects in Pakistan for investment but denied press reports about making any investment in a proposed plant to assemble heavy trucks in the country.

“We were surprised at the reports in Pakistani press in this regard. There was neither progress nor concrete finding in talks on proposal to set up a plant to assemble heavy trucks in Pakistan on the basis of third party investment not involving Daimler Chrysler.

“I am not aware of land been acquired for the proposed plant in Punjab,” said visiting President and CEO of Daimler Chrysler (Middle East and South Asia), Nicholas J. Speeks on Tuesday in Karachi.

Talking to reporters at an Iftar hosted by Pakistan-German Business Forum President Qazi Sajid Ali, Mr Speeks said: “We are represented in Pakistan in all respects by Ms Shahnawaz with whom we have good relations for the past five decades.” He spoke of economic growth and investment in Pakistan.

Mr Ali said Pakistan-German annual trade now reached one billion euros. He said in view of investor-friendly policies of the government and sustained economic growth, Pakistan had attracted a record foreign direct investment in the past few years.—PPI