KARACHI, April 7: The presence of Australian companies in Pakistan has surged to 76 from 66 last year and more companies are planning to enter sectors like infrastructure development, engineering, pharmaceuticals, IT, education, exploration, agriculture, housing, defence equipment, etc. “Australian companies want to invest in projects on built, operate and transfer (BOT) basis,” national president, Australia-Pakistan Chamber of Commerce and Industry (APCCI), Mirza Siddiq Ali, told Dawn on Thursday.

He said that many Australian companies were reluctant to invest in Pakistan a few years back but the situation had changed in the last two years. ”Australian investors now regard Pakistan as a growing market and consider it worthy of investment.”

“I think the law and order situation has improved, besides the government has also offered various incentives to attract foreign investment,” he pointed out.

Mr Ali said the city government had also shown its interest in initiating various development projects with the help of Australian firms such as recycling and treatment of sewerage waste, development of Dolphin and amusement parks and boating basin, upgradation of the city fire service, etc.

On the other hand, the number of Pakistani immigrants in Australia has risen to 15,000-18,000 as compared to 10,000 last year. Most of the Pakistanis are engaged in areas like IT, banks, private business, etc. Many of them are successful doctors.

“Pakistanis living in Australia are now willing to invest in Pakistan, as the economic and political situation in the country has improved,” he added.

The balance of trade between the two countries is in favour of Australia, as Pakistan imported items worth $305 million in 2003-04, as compared to $130 million exports to Australia in the same period.

Main items of imports are coal, tallow animal, iron ore, rapeseed, textile fibre, chickpeas (kabuli chana), palm oil fatty acid, non-ferrous metal, iron and steel, etc., while exports to Australia include textile yarn and fabrics, apparel cloth and accessories, rice basmati, sports goods and surgical instruments.