Pakistan's High Commissioner to the United Kingdom, Wajid Shamsul Hasan is optimistic about a quick turnaround of Pakistan's economy by the year's end despite the global downward trend.
The wide-ranging interview with the APP among many other issues-covered Pakistan's economy, post-Mumbai developments, advent of new administration in the United States, greater realisation of Pakistan's overly constructive role in the war on terror and growing understanding of the core issue of Kashmir as a nuclear flash-point.
Intensive interaction with important British functionaries, leaders in trade and industry and enthusiastic entrepreneurs have reassured Hasan of immense keenness in the United Kingdom to help his country develop economically and to strengthen its democratic institutions.
Despite backlog of piled up economic problems inherited by the new democratic government and slow growth in the recent past Hasan feels confident that Pakistan's economy will grow more than 4 per cent by the end of 2009. The High Commissioner referred to the launching of the Friends of Pakistan Club on the initiative of President Asif Ali Zardari and the United Kingdom to provide economic support and offset the huge expenditure being incurred on the war on terror and overcome economic difficulties intensified by the global financial crunch.
"We have been aggressively pursuing a policy of trade and investment diplomacy to pursue British business community to invest in Pakistan", he said. He mentioned about the enthusiastic participation of British trade delegation at the Expo 2008 held in October last year in Karachi and termed the visit as 'very fruitful' in generating interest among the participants in food items, power generation, alternative power resources, textiles, sport goods and surgical instruments.
Responding to a question, the High Commissioner said the British businessmen have been assured the protection of their investments and have been asked to invest 'fearlessly' in Pakistan.
"As a matter of fact, in our exchanges with them, they agreed that the ratio of profit offered by Pakistan and guarantees to their investments are very encouraging to attract investment and they are looking at various fields, carrying on negotiations with Pakistani entrepreneurs as well and government to invest British money in different businesses in Pakistan".
Hasan disclosed that later in March a delegation of Pakistan-Britain Trade Investment (PBTIF) led by its Chairman Sir Thomas Harris will be visiting Pakistan to explore possibilities of newer economic ventures, to consolidate and expand existing business.
Besides, PBTIF delegation's visit to Pakistan, there is going to be equally important participation from Pakistan in the International Spring Fair being held in Birmingham from February 5. So far eight major Pakistani business houses/entrepreneurs have registered for the participation of their companies in the Spring Fair.
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