Italy to invest $100m in Pakistan's marble industry

[Naveed Yaseen]

KARACHI: Italy would invest $100 million in Pakistan's marble industry, said Board of Investment Chairman Saleem Mandviwala on Thursday.

He said this during his visits to Overseas Investors' Chamber of Commerce and Industry (OCCI) and Karachi Chamber of Commerce and Industry (KCCI).

He rejected the perception that foreign companies are not showing interest in investing in Pakistan. He added that many agreements would be signed within a few days. He said major multinational companies want to invest in Pakistan.

"FIAT and Nestle are among the companies which want to invest in various sectors of the country," Mandviwala said.

He said that the option of IMF was not in favour of Pakistan, but if all other options fall short then the bitter pill of IMF would be swallowed in compulsion.

Answering a question, the state minister said the government is resolving the problems of investors. He said authorities of FBR would be contacted for getting audit and sales tax issues resolved.

Senior vice-president of KCCI, Javed Balwani, vice president Mehmood Ali, Siraj Qasim Teli, and Zubair Moti wala were also present at the occasion.

http://www.dailytimes.com.pk/default.asp...2008_pg5_5