KARACHI, Feb 2: President Pervez Musharraf on Wednesday said that Pakistan had highly conducive environment and bright prospects for investment, because of geographical location where it could cater to South Asia , Central Asia and the Gulf with half of the world population living there.

He was talking to two important delegations - first of top businessmen from Bangladesh, Canada, Hong Kong, Iraq, Japan, Morocco and Saudi Arabia and the second heads of Chambers of Commerce and Trade and Industry Associations from UK, Kazakistan and other countries, who called on him at Governor's House.

The Sindh Governor, Dr Ishrat-ul-Ebad Khan, Commerce Minister, Humayun Akhtar, Chairman EPB and State Minister Tariq Ikram and other senior officials were also present on the occasion.

The President assured that investment made here was quite secure, and they could also repatriate profit on investment. He said that government had developed, and still developing the infrastructure facilities including roads, telecommunication etc.

The President said that much scope for investment in the agriculture sector, particularly in agro-based industries, auto industry and information technology existed. He referred to the development of tourism sector, particularly mountain and coastal tourism and religious tourism for Buddhists and Sikhs.

President Musharraf said "our mountains offer attracting opportunities of trekking, mountaineering, skiing and hiking." He said that most beautiful valleys like Swat, Kaghan, Skardu, Gilgit, Hunza, Chitral had been inter-linked through a very good road network besides very good hotels and restaurants also coming up to cater to the requirements of tourists.

Above all, President Pervez Musharraf told delegates, the return on investment here was higher than offered in any other developing country. "It is more than 20 percent here," he added.

Referring to the concerns of foreign delegates regarding security and terrorism, the President said that Pakistan was fighting out terrorism with all its might. Masterminds and planners behind acts of terrorism were on the run and have been restricted to short corner, the President said.

Pointing out that one reason for extremism is poverty, the President told the delegations that they can contribute towards its alleviation through investment which would help create jobs.

He reiterated that government guarantees the security of investment made here. No government in the past ever did it. The President told the delegates it was noteworthy that no foreign investor or firm was ever attacked here, although some 500 to 600 foreign firms are operating in Pakistan.

He particularly made mention about cultural development taking place in Pakistan and in this regard he referred to the establishment of Pakistan's first National Academy of Performing Arts inaugurated by him on Tuesday night.

He said that vast majority of people of Pakistan are moderate, cultured, tolerant and broad-minded. Besides, he said Pakistan has the most talented, qualified and cheaper labour which would be available to foreign investors. He said Pakistan's labour charges were much lesser than what it was in the other regional and world countries.

He said that besides the strategic location Pakistan was in, those investing here would find lucrative outlets in Central and South Asia and the Gulf besides availability of consumers here. President Pervez Musharraf said that the policies being pursued by the present government had started bearing fruit. -APP