NEW YORK: International investors are showing keen interest in tremendous bussiness opportunities existing in various sectors of the Pakistani economy as it records positive trends in a host of macro-economic areas, the country's Permanent Representative to United Nations Abdullah Hussain Haroon said.
Ambassador Haroon was speaking to a 16-member delegation of chief executive officers from the United States' corporate sector, who attended a meeting with him at his special invitation.
Apprising the entrepreneurs of the latest hopeful state of Pakistani economy, Ambassador Haroon said Islamabad has taken a number of steps to restore macro-economic stability such as phased removal of subsidies on petroleum and power prices, tightening of monetary policy, increasing revenue and controlling expenditures while at the same time reducing borrowing from the state bank.
He said the government is also focused on improving energy situation in the country throguh installation of new power plants as well as making use of alternate energy sources and encouraging conservation practices.
The government's timely intervention and introduction of corrective measures have helped achieve better economic indicators.
Restoring investors' confidence, ensuring economic well-being of the people through infrastructure development and increasing economic opportunities are some of the priority areas for the government.
All economic sectors in Pakistan are open to foreign investment and foreign equity is allowed up to 100%, the ambassador said.
Ambassador Haroon underlined that despite energy challenges and the ongoing Afghan conflict on its Western border, Pakistan remains a promising destination for global investors, who find several lucrative opportunities.
He said, the government's consistent policies, coupled with an investment-friendly and hassle-free environment will attract major businesses.
Besides, Pakistan's geo-strategic location makes it premier energy and trade corridor for its neighbouring countries in Central and South Asia, he remarked.
The ambassador particularly drew attention of busniess leaders to investment opportunities in the energy sector, natural resource endowments such as one of the largest coal reserves in the world, self sufficiency in natural gas and availability of several suitable sites for wind and solar power generation.
He also briefed the visiting delegation about the investment opportunities in agriculture and infrastructure sectors of Pakistan. He shared with the American CEOs the success stories of foreign investments in Pakistan like Nestle, Proctor and Gamble, Toyota Motors, and Mobilink.
The delegation thanked the Ambassador Haroon for his comprehensive and informative overview of Pakistan's economy and investment scenario. They expressed keen interest in investment opportunities in Pakistan and greatly appreciated the envoy's offer to facilitate their visit to Pakistan and making their Pakistan experience as productive as possible.
Ambassador Haroon also arranged CEOs visit to the UN where Ambassador Vijay K. Nambiar, Chef de Cabinet gave them an overview of the activities of the UN with particular emphasis on economic issues.
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