PESHAWAR, Aug 4: Upward mobility among people of the middle class and the rise of consumerism during the past few years has been made possible by the federal government’s liberal investment policies, according to NWFP Governor Lt-Gen (retd) Ali Mohammad Jan Aurakzai.

The government firmly believed in providing an investment-friendly environment to local and foreign investors and resultantly Pakistan was now the hub for more than 600 foreign companies.

He was addressing as chief guest at the Export Trophy and Businessman of the Year Gold Medal Award for 2005-06 under the aegis of the Sarhad Chamber of Commerce and Industry here on Friday night.

The governor said: “Our exporters should, therefore, capitalise on the existing investor-friendly atmosphere and make best use of it in national interest.”

In fact, he said, a growing domestic market of 160 million consumers and a rising middle-class, coupled with consumerism, was eagerly awaiting prospective investors.

The governor said the revival of economy had been a success story which was closely linked to the volume of increase in exports over the years.

Referring to the export sector, the governor said, successive governments had been laying emphasis on certain traditional exports, like textiles, rice and leather goods and now the country was facing stiff competition in these products.

He said that it was time to explore new avenues and expand the list of exports.

The non-traditional sectors, like minerals were one such area which could earn foreign exchange beyond our expectations.

He particularly mentioned the mineral deposits, and said the wealth hidden in the NWFP and Fata could change the destiny of the people.

Responding to various points raised by president of the chamber Liaquat Ahmad Khan, the governor said that the government was planning to set up Reconstruction Opportunities Zones -- one each at Shah Kas in Khyber Agency, adjacent to the Peshawar Industrial Estate as well as in Hangu and Bannu -- to generate economic activity and increase employment opportunities.

He said that the provincial government had decided to upgrade all industrial estates by providing modern infrastructure and allied facilities.

The Hattar Industrial Estate in Haripur had been declared as a model industrial estate where an improved infrastructure would greatly benefit industrialists.

The governor said post-9/11 events had greatly affected the congenial atmosphere in the NWFP and Fata.

However, he said, the government was taking concrete steps to restore normalcy so that business and industrial activities could flourish without any hindrance.

The increase in police force of the NWFP and retrieval of Frontier Constabulary troops from other provinces and their deployment in NWFP, he added, are some of the steps that have been taken in this regard.

Seven gold medals as well as winner and runners up trophies in 25 different categories were given to local exporters, entrepreneurs and manufacturers.

Tabba Family, owners of the Gadoon Textile Mills and Lucky Cement Factory, followed by the Khyber Trading Company as well as the Muslim Commercial Bank and Bank Al Falah maintained their honours of the past year.

The governor handed over the awards to the winners on behalf of the Sarhad Chamber.—APP