Pakistan geared to become investment hub, says PM
Staff Report

ISLAMABAD—Prime Minister Shaukat Aziz Friday said with Pakistan's investment regime, the country was geared to become regional hub for trade and manufacturing.
Talking to J.E. Meredith, Group Managing Director and Group Chief Executive, Hutchison Port Holding Limited, Hong Kong at the PM House, the Prime Minister said Pakistan offered a huge market with attractive investment opportunities particularly in areas of power, energy, railways, IT and telecom, ports and shipping, construction and real estate.
He said the government offered a level playing field to investors with reduced cost of doing business, openness of government policies and transparency in transactions.
The Prime Minister said the reform agenda of the government was based on the philosophy of privatization, deregulation and liberalization.
He said transparency was the hallmark of all government transactions and the government was encouraging investments on public-private partnership basis.
The Prime Minister said the size of the economy had doubled during the past seven years. Last year, GDP growth was 6.8 percent. Per capita income grew by an average rate of 13.9 percent per annum during the last four years rising from $ 582 in 2003 to $ 847 in 2006.
He said poverty was declining and 15 million people were brought out of poverty net the last five years.
The Prime Minister said Pakistan was fast becoming a regional hub of IT, Telecom and media business and a large number of companies were shifting their businesses to Islamabad as doing business is more feasible in Pakistan.
The Prime Minister said as a result of the fast growth and investments being made by the private sector there was a skills gap and the government has initiated many programmes to provide training in necessary skills.
J.E. Meredith said Pakistan was their regional focus and they value the geo-strategic location and investment friendly policies of Pakistan.
He said Hutchison Port Holding, which was operating in 44 countries around the world, was already working in Pakistan and has plans to invest more in the ports sector.
It was also planning to do some joint ventures on the public private partnership basis.
He said Gwadar has the potential to become a regional center for trade and sports activities.
The meeting was attended among others by Federal Minister for Ports and Shipping Babar Khan Ghouri and senior officials.