ISLAMABAD, Sept 2: Senate Chairman Mohammedmian Soomro has called upon the Singaporean businessmen and industrialists to invest in Pakistan. Delivering a lecture on “Liberalizing Pakistan’s economy — challenges and prospects,” at the Institute of South Asian Studies (ISAS) in Singapore, the chairman assured the Singaporean businessmen that Pakistan government would provide all possible facilities to them.

An official announcement issued here on Friday said that Mr Soomro pointed out that Pakistan was located at the crossroads of South Asia and had the potential to become a hub of economic activities because of its geo-political location in the region.

The chairman said that the process of deregulation, de-centralization of powers and transparency in privatization policies brought about an upward trend in the economy as a result of which Pakistan had successfully overcome the economic challenges confronting it.

He further stated that Pakistan had done a lot to create a friendly environment in the country by liberalizing trade, removing restrictions and adopting attractive incentive based policies.

The Senate chairman gave an overview of the liberal economic and investment friendly policies initiated by the government, banking sector reforms, corporate taxation, stock market reforms, restructuring and rightsizing of various financial institutions, legal sector efficiency and the measures to make the regulatory agencies independent and impartial.

He invited the Singaporean businessmen and investors to visit Pakistan and take full advantage of the full economic and investment opportunities available in the country.

He expressed the view that easing of visa restrictions and introduction of direct flights between Pakistan and Singapore would provide an opportunity to increase business-to-business contacts.