Incentives make Pakistan attractive for investment

[Lahore_Real_Estate]

* President says banking industry has tremendous potential for investment

* Govt will provide all possible help to investors

Staff Report

ISLAMABAD: The incentives offered by the government, including legal protection of investments, permission of 100 percent foreign equity, equal treatment to foreign as well as domestic investments make Pakistan an attractive place for investment, President Asif Ali Zardari said in a meeting with Andrónico Luksic Craig, vice chairman of the Banco de Chile, who called on him at the Presidency on Wednesday.

The president while appreciating Craig’s interest in exploring possibilities of investment in Pakistan said the country’s banking industry had tremendous potential for further investment in financial sector, urged him to take advantage of the attractive investment opportunities offered by the government.

He said Pakistan had achieved macroeconomic stability over the past two years, which resulted in economic recovery.

He said the country’s large market of over 170 million people, and its strategic location offered great opportunities for investment.

The president added that the government would provide all possible help and support to facilitate their smooth operations in Pakistan. Craig thanked the president for the meeting and expressed keen interest in exploring possibilities of investment and operations in the country.

Minister of State Saleem H Mandviwalla was also present during the meeting.

Separately, WHO Director General Dr Margaret Chan on Wednesday called on President Zardari at the presidency, accompanied by other WHO senior officials. Senior government officials were also present at the meeting.

Matters relating to various activities of WHO in flood-affected areas, including providing medical aid to flood victims, rehabilitation of medical facilities hit by the floods, and controlling outbreak of diseases in flood-hit areas were discussed.

Zardari appreciated WHO not only for the organisation’s swift response in collaboration with local authorities to meet challenges of the floods, but also for sensitising the international community and drawing their attention to precarious health issues in the flood affected areas. He lauded WHO’S contribution in the establishment of disease early warning system and diarrhea control centres in the flood affected areas.

The president said there was a need for WHO to remain engaged in the early recovery and rehabilitation phases of flood-hit areas to ensure that disease control work was sustained.

Dr Chan expressed satisfaction over improvement of medical facilities and medical outreach to people in areas worst hit by the devastating floods.