Pakistan has great potential for alluring foreign investment in fields of oil, gas and coal exploration, alternative energy, education, IT, agriculture and financial sectors with business friendly regimes. However, incidents like Lahore should be combated with effective counter terrorism strategy to build investors confidence.
Speaking at a press conference at the British Deputy High Commission on Wednesday, Chairman Pakistan British Trade and Investment Forum (PBTIF) Sir Tom Harris described his visit to Pakistan as successful. He also represents Standard Chartered, said that his delegation will try to convince the British companies and investors to set aside the media reports on Pakistans law and order, and invest in all major sectors.
Delegations other members included British Deputy High Commissioner and Director Trade and Investment Pakistan, Robert W Gibson, Pakistans High Commissioner in UK, H. E Wajid Shamsul Hasan, besides Saira Ahmed from Pakistan High Commission, Zafar Iqbal Choudhry of Clyde & Co, Vince Harris of International Power, Rashid Iqbal of Media Integrated Learning Centre and Ikram Khan of Mediaworld.
Sir Harris reposed confidence on Pakistans return to political and economic situation under the civilian government, saying that the recent reforms and privatisation programme will help Pakistan achieve growth in access of six percent annually.
He said that PBTIF will make efforts to make Pakistani textile and other products accessible to the British consumers. He pointed out that trade between Pakistan and Britain stands at $2 billion at present, which should be increased with strengthening trade ties.
He pointed about delegations talks with President Zardari on quick resolution of commercial disputes, to which he gave a positive nod, saying the legal uncertainty is one of the impediments towards investment in Pakistan.
About the terror incidents in Pakistan, Sir Harris said that they are not only destabilising Pakistan but also disrupting the arrival of foreign investment. He also said that meeting of Friends of Pakistan is taking place in next three weeks in Japan to discuss new developments.
He said that about 54 branches of Standard Chartered Bank were opened last year in the country, while Barclay Bank has also set foot on Pakistan soil, showing that the foreign investors are still keen in business here. He also highlighted the objectives of the PBTIF.