ISLAMABAD, Jan 12: Prime Minister Shaukat Aziz has said during the last five years Pakistan has succeeded in turning around its economy and building strong democratic institutions starting from local governments.

He was talking to the Canadian House of Commons Speaker Peter Milliken, who called on him at the head of a five-member parliamentary delegation here on Wednesday. Talking about economic reforms, Mr Aziz said the deregulation measures and continuation of economic policies had strengthened the economy.

The economy is growing fast and all indicators are positive. He said the expectations was that the growth could touch 7 per cent this year. He said the country had unprecedented representation of women at all levels in the elected bodies. The press, including the electronic media, is enjoying freedom and growth never seen before.

The prime minister briefed the delegation on Pakistan's efforts for peace and stability in the region. He said Islamabad had initiated the process of dialogue with India to resolve all outstanding issues in tandem with the issue of Jammu and Kashmir.

He hoped that the peace process with India would go ahead to find solutions to the outstanding problems in order to ensure peace and prosperity in South Asia. Pakistan has provided the largest number of peace-keeping troops to the United Nations for ensuring global peace,he said.

He said the country had been contributing to the reconstruction of Afghanistan as it was essential for a durable peace in the region. He said providing of market access to Afghan products in international markets would further help the Afghan economy and peace and progress in the region.

Mr Milliken said his country welcomed the return of Pakistan to the Commonwealth. He appreciated Pakistan's efforts in supporting peace and reconstruction in Afghanistan. He said Canada had also been associated with peace-keeping and rehabilitation work in Afghanistan.

He said he was impressed by the progress made in Pakistan both in economic and political spheres. He said the country had enormous potential for tourism which could be yet another source of economic activity.