Political stability enhanced investors’ confidence: Soomro

ISLAMABAD—Chairman Senate, Mr. Mohammedmian Soomro has said that political stability, continuity in the policies, and impressive economic performance during last five years has enhanced the confidence of foreign investors to invest in Pakistan.
He was delivering a lecture on 'liberalizing Pakistan's economy-challenges and prospects' at the Institute of South Asian Studies (ISAS) in Singapore according to a message received here today from Singapore.
The Chairman Senate said that the process of de-regulation of laws, de-centralization of powers and transparency in privatization policies brought about an upward trend in the economy as a result of which Pakistan has successfully over-come the economic challenges confronting it.
The Senate Chairman further stated that Pakistan has done a lot to create a friendly environment in Pakistan by liberalizing trade, removing restrictions and adopting attractive incentive based policies. He called upon the business community and industrialists to invest in Pakistan and assured them that government would provide all possible facilities to them. He pointed out that Pakistan is located at the cross roads of South Asia and ASEAN and has the potential to become a hub of economic activities because of its geo-political location in the region.
Chairman Senate gave an overview of the liberal economic and investment-friendly policies initiated by the Government of Pakistan, banking sector reforms, corporate taxation, stock market reforms, re-structuring and rightsizing of various financial institutions, legal sector efficiency and the steps Pakistan had taken to make the regulatory agencies independent and impartial.
During question-answer session, Chairman Senate stated that holding of local bodies elections was a part of the process initiated by the government to strengthen democratic institutions and empower the people at grass-roots level. In reply to another question, Chairman Senate pointed out that unprecedented representation has been given to women in Pakistan which would go a long way in bringing about an improvement in our socio economic conditions.
Chairman Senate expressed the view that easing of visa restrictions and introduction of direct flights between Pakistan and Singapore would provide an opportunity to the businessmen of the two countries to interact and increase trade and commercial activities.
He invited the Singaporean businessmen and investors to visit Pakistan and take full advantage of the full economic and investment opportunities available in the country.
It is pertinent to mention here that the Institute of South Asian Studies (ISAS), an autonomous research institute of the National University of Singapore had invited the Chairman Senate to deliver a public lecture on Pakistan's economy and growing economic opportunities.
The lecture was attended by people from various walks of life including business community, high ranking officials, heads of the multi-national companies, think tanks, academia and media representatives. A delegation of Pakistani businessmen representing Lahore Chamber of Commerce and Industry, currently on a visit to Singapore to explore the prospects of import and export, was also present during the lecture.—Agencies