ISLAMABAD, Jan 21: Pakistan on Monday assured a US delegation that the National Security Council would ensure continuity of military government’s policies beyond Oct 12, 2002.

Led by Senator Brook Douglas, the five-member delegation from the department of commerce, Oklahoma, is on a two-day visit to Pakistan. It is holding meetings in the ministries of petroleum, information technology, agriculture and privatization.

The delegation informed a meeting presided over by Board of Investment chairman Waseem Haqui that the continuation of policies in the post-Oct 12 situation was its prime concern, official sources told Dawn.

The BoI chairman said that modalities were being worked out to constitute a body that would ensure continuity of government’s economic policies. President Pervez Musharraf, he said, had already directed to remove apprehensions in this regard. The NSC would ensure that the future setup did not back out of these policies for ulterior and personal motives, he added.

Senator Douglas indicated the interest of Oklahoma companies to enter Pakistan’s media industry through extension of their media channels once the recently announced Pakistan Electronic Media Regulatory Authority was put in place.

The senator also said that many companies from his state were keen to invest in the sectors of oil and gas, agriculture, services, value-added food products, education, IT and software development, handicraft and other goods on the basis of joint ventures.

Mr Haqui told the delegation that 70 out of a total 300 foreign companies operating in Pakistan, were US-based and they held around 38.7 per cent of total market share. Last year, he said, the investment form the US amounted to $92.7 million, including 85pc in the oil and gas sector.

The delegation was told that IT had reached the gross-roots level and reversal of IT policies would not be possible for any future government. Liberal concessions were given to IT companies investing in Pakistan, including a 15-year tax exemption. In January 2003, the IT market would stand completely deregulated and the band-width connectivity rates in Pakistan were the lowest in the region, the BoI chief said.

He also said that Pakistan was in advanced stages of petroleum sector’s deregulation.

Members of the delegation said that Ohio and Oklahoma states were pioneers in the field of tele-medicine and there were possibilities of collaboration and cooperation of these states with Pakistan in this field.