Investment in agriculture, infrastructure: Opic team assures of motivating US investors

The Overseas Private Investment Corporation (Opic), a USA public sector investment agency, has assured Pakistan that it would convince US investors to invest in Pakistan's energy, agriculture and infrastructure sectors. The assurance was given by a three-member visiting Opic delegation to Secretary, Ministry of Investment (Board of Investment), Tariq Iqbal Puri, here on Wednesday.
The Opic delegation, headed by its acting president, Robert B Brumheller, discussed investment opportunities in Pakistan with the Secretary, Board of Investment. Iqbal, highlighting the government's investment policy, informed the delegation that it allows 100 percent foreign equity in major sectors, and full repatriation of profits and dividends in all other sectors.
He said that average rate of return is almost 30 percent and, in some sectors, it is up to 50 percent. About energy shortage in Pakistan, Puri said that the country is currently facing energy shortage, which provides a prime opportunity to Opic for making investment in this sector.
Moreover, agriculture, infrastructure and oil and gas sectors are also among potential sectors for Opic investors in Pakistan. The delegation, which showed keen interest in the petroleum and energy sectors, also expressed intention to locate specific sectors for US investors, like joint ventures in power sector of Pakistan. Brumheller said that the Overseas Private Investment Corporation is an 'independent' US agency providing investment services to companies investing in other countries.
After the meeting, Tariq told Business Recorder that the Opic basically facilitates the business community by providing direct medium- and long-term loans for private investment. He said that Opic focuses on supporting developing countries and providing opportunities to US businessmen to invest abroad for development of new and emerging markets, complementing the private sector in managing risks associated with foreign direct investment along with supporting the US foreign policy.
The Opic charges market-based fees for its products, and operates on self-sustaining basis. Puri said that the Opic was working in Pakistan since 2002, and facilitating loans to almost 15 projects, particularly in banking, telecom, power and SMEs sectors. The delegation also wanted to explore potential in thermal, hydel and wind energy generation, he added.
Puri said that despite law and order situation, Pakistan has the capacity to attract foreign investors in multiple fields, especially energy sector. The Opic-supported projects not only help in creating jobs for Americans but also generates exports, he said. On arrival of the delegation, Puri welcomed the US delegation and appreciated them for taking interest in Pakistan, and highlighted the policy parameters of investment in Pakistan. He thanked the delegation and assured them that the government of Pakistan would provide all assistance to them as and when needed.