Prime Minister Shaukat Aziz said here on Friday that the government''s consistent and transparent policies have established the economy of Pakistan on solid foundation while attracting substantial investment in the country, both from local and foreign investors.
Talking to a delegation of Overseas Investors'' Chamber of Commerce and Industry at Governor''s House here, he said that as a result of the reform agenda and macroeconomic policies the rate of investment in the economy had reached all time high and foreign investments this year touched the level of $8.4 billion.
The Prime Minster said that a strong economy had created an ideal climate for investment in Pakistan. The reform agenda initiated by the government had been widely acclaimed by multilateral institutions and the investor community, he said, adding that the robust economic backdrop presented a strong case for investment in the infrastructure of the country.
He said: "Our strategy for improving investment climate in the country is multi-pronged, marked by financial sector taxation reforms, dismantling of archaic procedures, better enforcement of civil contracts, documentation of property rights, infrastructure development and, above all, ensuring consistency and continuity of government policies".
He said that because of high economic growth during last five years, and expansion in various fields, the middle class was rapidly growing and demand for consumer goods was increasing.
He said that apart from a business-friendly policy environment, Pakistan was offering vast investment opportunities in energy, oil and gas, mining, engineering, automobiles, infrastructure development, information technology and telecom, financial and agriculture sectors. The government, he said, had also made progress in reducing the cost of doing business, which was evident from the improved ranking of Pakistan as per the Global Competitiveness Index. He said that the government was focussing on the National Trade Corridor program by developing road and rail networks across the country as it would reduce the cost of doing business while reducing time and increasing efficiency.
The delegation expressed satisfaction over the economic progress made by Pakistan in recent years and appreciated the economic reforms introduced by the government. The economic opportunities and potential in Pakistan, they said, were extensive and the atmosphere was conducive for foreign and local investors.
Sindh Governor Dr Ishrat ul Ibad Khan, Chief Minister Dr Arbab Ghulam Rahim, Advisor to PM on Finance Dr Salman Shah, Adil Siddiqui, Minister for Commerce and Industries, State Bank Governor Dr Shamshad Akhtar and SECP Chairman Razi ur Rahman were also present in the meeting.