The process of deregulation of laws, decentralisation of powers and transparency in privatisation policies have brought about an upward trend in the economy to help Pakistan in overcoming challenges it has been confronting with over the last few years.
Senate Chairman Mohammedmian Soomro stated this, while delivering a lecture on "Liberalising Pakistan's economy-challenges and prospects" at the Institute of South Asian Studies (ISAS) in Singapore, a message received here on Wednesday said.
Soomro said that Pakistan had done a lot to create a friendly environment in the country by liberalising trade, removing restrictions and adopting attractive incentive-based policies. He said the political stability and impressive performance of Pakistan's economy during the last five years had enhanced the confidence of foreign investors.
He called upon the business community and industrialists to invest in Pakistan and assured them that the government would provide every possible facility.
He said Pakistan was located at the crossroads of South Asia and Association of Southeast Asian Nations (Asean) and had the potential to become a hub of economic activities because of its geo-political location in the region.
During the question and answer session, the Senate chairman said that holding of local bodies' elections was part of the process initiated by the government to strengthen democracy and empower citizens at the grassroots level.
Successful holding of local bodies' elections would definitely send a positive signal to the world community that democracy in Pakistan was taking roots, he added.
He said that unprecedented representation had been given to women in Pakistan that would go a long way in bringing about an improvement in the country's socio-economic conditions. Soomro said that easing of visa restrictions and introduction of direct flights would provide an opportunity to the businessmen and investors to interact and increase trade and commercial activities.-PR
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