No security problem for foreign investors: German CG

A seminar on "Infrastructure Development and Business Opportunities for German companies in Pakistan" was held in Berlin (Germany) on Friday. According to a message received here from Berlin, Federation of German Industries (BDI) and Embassy of Pakistan jointly arranged the seminar.
At this seminar Charge d' Affairs of Embassy of Pakistan to Berlin Khalid Usman Qaiser, Syed Mustafa Kamal, Nazim Karachi, Air Marshal Shahid Hamid (Retd), Chairman Alternate Energy Board, Qazi Sajid Ali, President of Pakistan-German Business Forum, Abdur Rauf Sheikh, Director General Board of Investment, Mohammad Yousaf Memon, Managing Director, Private Power and Infrastructure Board, Dr Shujat Ali Chaudhry and Nasir Javed, Head of Urban Planning Unit, Government of Punjab gave presentation to investors of major German companies on the opportunities for investment in Pakistan.
The Charge d' Affairs of Embassy of Pakistan, Berlin Khalid Usman Qaiser in his inaugural remarks apprised the participants about the Government's policy to attract foreign investment in various sectors.
He said that present government is acting like a service platform for the foreign investors. He highlighted that foreign investors can start business without any hindrance and the Board of Investment provides one window opportunity for all foreign investors.
He said that on the average Pakistan offers a return of 20 to 30 percent on the foreign investment and due to foreign investor friendly policies of the present government there was over US $8 billion direct foreign investment from July 2006 to June 2007.
He informed the participants that the Government of Pakistan provides full guarantee to the foreign investors and they can remit the profits without any hindrance. Briefing the German audience Syed Mustaf Kamal, Nazim of Karachi said that Pakistan offers excellent opportunities for German investors in various projects.
He said that the city of Karachi offers mutually beneficial projects in power generation, water supply, sewerage treatment plants and solid waste-management. He said that Pakistan wants to benefit from German technology in these sectors. He particularly mentioned that we do not need any financial assistance but want to attract German companies to provide these technologies at competitive rates.
Mustafa Kamal particularly mentioned that Karachi with a population of 18 million people needs 640 million gallons of water per day and in order to meet the growing demands of water Karachi city needs desalination plant for making sea water potable.
He also said that funding was available for installation of a sewerage plant with a capacity of 300 million gallons per day. He also mentioned that Karachi City offers good opportunities for German companies in solid waste-management and 10,000 tonnes of solid waste per day can be utilised for generating power and recycling.
The Chairman of the Alternative Energy Development Board, Air Marshal Shahid Hamid (Retd) apprised the German investors of the scope of Pak-German cooperation in wind and solar energy sector. He said that Pakistan has a coastline of over 1000-km with a wind speed of 7-M/S and over 300 clear sunny days in a year.
He also informed the German investors that the government of Pakistan is offering full guarantee to purchase the electricity produced by windmills and solar panels at very competitive rate. He said that the government also provides lands for windmills at a very low cost and no permission is required for making the investment or remittance of the profit.
Director General, Board of Investment, Abdur Rauf Sheikh informed the German participants about the investment climate in Pakistan and said that the foreign investors can invest in Pakistan without any permission. They can remit their profits without any hindrance and can file their tax return via email.
In this regard he mentioned that the World Bank has included Pakistan in the list of 11 countries of the World, which are investor friendly. The Managing Director of Private Power and Infrastructure Board, Mohammad Yousaf Memon informed the participants about the present and future energy requirements of Pakistan.
He said that due to over seven percent growth in GDP for last six years the demand for energy has increased manifolds. He said that Pakistan has a vast potential of power production.
He particularly mentioned untapped potential of hydel-power and existence of vast deposits of coal in Sindh province, which can be used for power generation. Speaking on this occasion, Hans Joachin Kiderlen, Consul General of Germany to Pakistan (Karachi) said that many German companies have invested in Pakistan and they are doing successful business.
He said that there is no security problem for foreign investors in Pakistan. He said that unfortunately perception portrayed by them is different from reality. Representatives of over 25 major German companies were present on this occasion. They showed keen interest in the seminar and asked several questions from all the Pakistani participants.