Liberal policies transformed Pakistan’s economy: Sandra Pupatello
Written by pub
Thursday, 25 January 2007
ISLAMABAD, Jan 25 (APP): Pakistan has undergone a remarkable economic transformation which has put the country on the list of international investment.
This was stated by Ms. Sandra Pupatello, Minister of Economic Development and Trade Minister Responsible for Women’s Issues, Ontario while addressing a breakfast meeting arranged by the Board Of Investment (BOI) in the honour of the visiting delegation from Ontario, Canada here in a local hotel Thursday.
While praising the hospitality of the people and the government she said Pakistan is not what we read about it, Pakistan is what we have seen here during the visit.
It is the future investment destination and a time will come, in the near future when everybody will say, ‘the world is in Pakistan, where are we’ she added.
Appreciating the investor friendly policies of the government, she said this is the first delegation from Ontario, which has visited Pakistan and “we have seen immense opportunities in almost every sector of economy”.
Emphasizing upon the investment opportunities in IT, infrastructure, power, health, agriculture and livestock, oil and gas and housing & construction sectors, she asked the members of her delegation to take full benefit of these for mutual benefits.
She also stressed the need for more interaction and cooperation between the two countries.
Earlier Omar Ayub, Minister of State for Finance in his welcome address said that as a result of macro-economic reforms, Pakistan’s economy is now booming at fast growth rate.
The rising Foreign Direct Investment figures are an ample proof of the increasing investments in all sectors of economy in Pakistan.
This all, he said, has been possible because of the visionary leadership and the conducive investment climate created through liberal policies of the government.
This is only the beginning, we have set very ambitious targets for ourselves which we will achieve Inshallah, he added.
Highlighting the vast potential that exists in Pakistan in all sectors, he called upon the Canadian investors to invest in any sectors they like as all sectors are available for investment where no government permission are required.
Earlier, Talat Miyan, Secretary, BOI briefing the delegation said that the investment policies of Pakistan are the most liberal in the whole region and all sectors of economy are open for 100% foreign equity.
He briefed them about the investment incentives and opportunities available in Pakistan.
He assured all support from Government of Pakistan and BOI to Canadian Investors and told them that this is the right time to invest in Pakistan.
Later, in the afternoon three (3) Agreements were signed between the Private Sectors of Pakistan and Canada in the IT Sector.
The Agreements were signed by the representatives of the signing companies in the presence of Canadian High Commissioner in Pakistan and Premier Dalton McGuinty of Ontario, Canada.
The signatories of these agreements are TenXc Wireless, Canada with Coherent Designs, Pakistan, Research in Motion, Canada with Innovs Limited, Pakistan, Pathways Group, Canada with Si3, Pakistan.
Oober Inc. of Richmond Hill, Ontario also announced that it is opening its software development Centre in Islamabad.