ISLAMABAD: President Mamnoon Hussain on Tuesday said that establishment of IT University in Rawalpindi would further accelerate the process of social and economic development and foreign investment in the education sector would be appreciated.

The President said this while talking to a delegation of foreign investors who called on him here at the Awian-e-Sadr.

The delegation included the heads of foreign multinational companies. Senator Kamran Michael also accompanied the delegation.

The President emphasized that education had a pivotal role in the development of human resource and the incumbent government was making all out efforts for the socio-economic development of the country.

He stated that the Government was working on several projects to encourage the pursuit of higher education like Prime Minister's Scheme for provision of Laptops and Prime Minister's Fee Reimbursement Programme.

He said that universities had a significant role in the social and economic progress of the country.

The President underscored that there was a conducive environment for foreign investors in the country as Pakistan had greatly overcome the menace of terrorism adding that Pakistan would welcome the investment in textile sector.

The President appreciated the establishment of Information Technology University in Rawat by the delegation in collaboration with the Government of Punjab.

He also commended the efforts of the delegation in promoting educational projects. He said that their struggle for the betterment of the marginalized classes of the society was highly praiseworthy.

While appreciating the award of scholarship to Pakistani students, the President underlined that the Government would continue to support welfare activities through education.

He stated that Pakistan would definitely take part in Winter Olympics.