Chairman Senate, Mohammadmian Soomro on Thursday said Pakistan offers tremendous investment opportunities to foreign businessmen and entrepreneurs as the country has the potential to emerge as a major regional hub of transit trade.
Talking to High Commissioner of Canada and Ambassador of Japan, who called on him separately here, he said Pakistan is a country of nearly 170 million people with a strategic location having advantages of easy availability of hardworking and inexpensive labour. The middle class is expanding and purchasing power increasing, he said and added, similarly the banking sector is strong and robust to support expanding business operations.
He said power generation, infrastructure development, oil and gas exploration, housing and real estate are some of the areas, which hold great promise for any prospective investors. The Canadian High Commissioner said his country could help Pakistan in Hydro-Electric power generation as it has significant expertise in this field.
He also informed that the number of Canadians of Pakistani origin is increasing steadily and added "we attach great importance to our relations with Pakistan, which are expected to grow further in a number of areas." He hoped that Canadian assistance for social sector, which is presently about $10 million per annum would be increased gradually.
Matters relating to enhancing parliamentary linkage and exchanges also came under discussion and it was observed that the training of legislators is very essential to enable them undertake legislation. The Chairman said Senate is a very important national institution, which ensures equal representation to all the federating units. The purpose of the Upper House is to provide a second or Revision Chamber and its atmosphere is sober and solemn.
He said state institutions will have to be strong and stable to deliver and thanked the High Commissioner for valuable Canadian assistance for social sector development in Pakistan and its support for rehabilitation of affectees of October 2005 earthquake.
During the meeting with Japanese Ambassador, Chihiro Atsumi, the Chairman emphasised the need to further expand and consolidate business and economic relations. He said these relations are based on solid foundation and there is a need to build them further. The Chairman said lately a global slowdown is being witnessed, which is also affecting Pakistan, but it is hoped that things would improve within a reasonable time.
He also expressed the resolve that the country would continue its efforts for combating the scourge of terrorism and called for more technical support to knock out the insurgents.
The Chairman while renewing the resolve to take on the terrorists, called for addressing the root causes of terrorism and extremism, principally poverty and injustice. "The world community must appreciate the country's firm resolve and commitment to contain and eradicate terror despite heavy odds it is facing," the Chairman observed.
The Japanese Ambassador called for activating the Pak-Japan business forum urgently to the mutual advantage of both the countries. He said the Japanese businessmen are keen to work with their Pakistani counterparts and commended the efforts being made for economic development of the country.