ISLAMABAD, Feb 9: The government is organising an Overseas Pakistanis Investment Conference (OPIC) here in the first week of March to attract over $3 billion investment mostly by Pakistanis living abroad.

“Some 257 overseas Pakistanis have shown interest to invest over $3.375 billion in different sectors in Pakistan, including real estate, communications, telecommunications, information technology, agriculture, health, education and in capital markets,” minister for labour, manpower and overseas Pakistanis, Ghulam Sarwar Khan, told a press conference on Friday.

The event, to be held on March 5-6, will be attended by both President General Pervez Musharraf and Prime Minister Shaukat Aziz.

He said some 36 businessmen from Saudi Arabia were willing to invest $300 million, 55 from US have shown interest to invest $1.129 billion, 38 investors form UK will make an investment of $935 million and 18 businessmen from UAE wanted to invest $84 million.

"We have invited overseas Pakistanis across the world but a good number of foreign investors are also interested to come and invest in the country," the minister said.

He expressed the hope that the conference will help encourage and facilitate effective participation of overseas Pakistanis who were keen to take part in the country's economic development.

“The conference is being held in view of an extremely favourable investment climate in the country,” he said.

"It will also provide a platform to overseas Pakistanis to interact with the private sector and policy-makers in the country, besides, being instrumental in attracting direct foreign investment in Pakistan", he added.

Mr Khan said Pakistan’s foreign missions had been requested through foreign office to send details and particulars of the potential investors in the two categories --- those who could invest $1 to 5 million and others who have potential to invest over $5 million.

The conference, he said, will provide an opportunity to interested parties to display their products and services at the exhibition pavilion of Jinnah Convention Centre.

He said Pakistan International Airlines (PIA) had offered 30 per cent discount for the registered participants of the conference.

The minister appreciated the efforts of Overseas Pakistanis Division and said they were playing role for the development of the country.