‘Pakistan needs enhanced trade not aid’, says Pakistan envoy Mr. Hasan

 

Pakistan enjoys a significantly high ranking in terms of investment friendly policies and this potential must be utilized by investors from UK for enhancing trade and investments in Pakistan, for mutual benefits of both the countries.

 

These views were expressed by Pakistan High Commissioner Mr. Wajid Shamsul Hasan and visiting Federal Secretary for Commerce Syed Asif Shah in a seminar organized by Asia House Corporate Programme in London on 21 August 2008.

 

Chief Executive Asia House Ms. Charalotte Pinder in her opening remarks introduced Pakistan as a country with remarkable economic growth having immense potential for investments in various sectors.

 

Introducing Pakistan as an investment friendly country the Secretary Commerce informed that with $ 160 billion GDP, and Foreign Direct Investment of average $ 5-7 billion coupled with high ranking in terms of ease of doing business Pakistan can be counted as one of the friendliest investment countries in the world.

 

Secretary Commerce Syed Asif Shah said that perception of Pakistan differs from the reality. The foreign investors and expatriates based in Pakistan have entirely different view about the country and its investment environment. He pointed out that MNCs working in telecommunications services are earning upto120% profits.

 

The Commerce Secretary underscored the need of enhancing trade and investment in Pakistan as part of international support to the aspirations of people of Pakistan in the perspective of new era of democracy in Pakistan. ”Pakistan needs trade not aid” he emphasized.

 

The Pakistan envoy Mr. Hasan appreciated the role of Asia House in introducing economic and trade potential of Pakistan to investors in UK. He said that present government inspires confidence of people but international support in the form of greater investments for strengthening economy is essential to build up this confidence. He pointed out that existing gap between demand and supply in sectors such as energy offer huge potential and opportunity to foreign investors.

 

 

August 22, 2008