ISLAMABAD, June 2: Minister for Industries and Production, Liaqat Ali Jatoi on Wednesday said foreign investors in Pakistan are allowed to hold 100 per cent equity and enjoy tax concessions.

"There is no bar on repatriation of capital and profits," he said while addressing the Pakistan Business Council (PBC), Dubai, working under the patronage of Dubai Chamber of Commerce and Industry.

Likewise, he said, payments of royalty, technical and franchise fee were also allowed without restrictions. "Foreign investment is fully protected under the law," he added.

The minister said Pakistan offered attractive investment opportunities and joint venture projects with UAE in engineering, petroleum, value-added textile products, food processing, fish product diversification and in various other potential sectors.

He said Pakistan's economy is turning around very fast because of best policies of President Pervez Musharraf, said a message received here. "We need more market access in Dubai on the areas where Pakistan has the potential to collaborate in terms of technology co-manufacturing, co-financing and co-export," he said.

The minister also stressed the need of exchanging visits by the members of the chambers of commerce of both the countries to explore the opportunities for enhanced trade and investment.

He emphasized more private sector interaction for strengthening economic ties between the two countries. Talking on manpower export from Pakistan, he said, the aspect of providing more job opportunities to skilled and unskilled labour force from Pakistan needed to be looked into.

"There is sufficient surplus of qualified doctors and engineers available for export to Dubai," he added. He also briefed PBC members about the economic situation of the country, investment polices, imports and exports and potential sectors for investment.

On the occasion, President of PBC, Tanvir Khawaja said the council would play its role to further strengthen the brotherly relations and the economic ties of the two countries. -APP