Pak-UK trade to reach 2.5bn sterling by 2015

Monday, 14 May 2012 18:23

Posted by Shoaib-ur-Rehman Siddiqui

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KARACHI: A framework for investment has been signed with the British Government during the recent visit of Prime Minister Yousuf Raza Gilani to London in which the bilateral trade volume would be increased to 2.5 billion sterling by the year 2015.

This was stated by the chairman Board of Investment (BoI) Saleem H. Mandviwalla while talking to media during a visit to M/s Maxco (Pvt) Ltd, Karachi on Monday.

Saleem Mandviwalla stated that Prime Minister visit to London was bilateral in which various issues including the investment prospects were discussed and its aim was to enhance the economic activities between Britain and Pakistan.

Replying to a question about Thar Coal Project, he said that it was a provincial subject and Sindh government was looking after it. However, the Thar coal Project would be completed as it was very important project for the country. He further informed that one London based company Oracle has already been allotted one Block at the Thar Coal Project.

Saleem Mandviwalla said that the government was providing full protection to the foreign investors and facilitating them in doing business in Pakistan.

Earlier Mandviwala held a meeting with Redio Massimo, CEO Maxco (pvt) Ltd and discussed various issues specially relating to the security, law and order.

The CEO informed him that company has invested an amount of Rs 6 billion for producing high value added fashion garments which are mainly exported to European countries.

Hatim, Chief Financial Officer of MAXCO was also present in the meeting.