Restructuring strategy to increase foreign investment: Wasi
By Asad Cheema

ISLAMABAD—The highest ever-foreign investment of US $ 8.4 billion witnessed during 2006-07 would be further increased after the implementation of restructuring strategy.
Mr. Muhammad Wasi Zafar Federal Minister for Privatisation & Investment stated during an Iftar-dinner hosted by him in the honor of the representatives of the national print and electronic media.
The Minister said that the continuity and consistency of the policies have yielded remarkable results. Pakistan is a safe haven for all investors where they enjoy no restriction for availing the exciting investment opportunities in any sector of economy in a liberal environment to invest 100 % equity and to repatriate the desirable amount of equity and profit without any permission. The Board of Investment is providing all assistance to the local and foreign investors without any discrimination in a level-playing atmosphere. Pakistan was an investors friendly destination where the investors can expand their operations, start their new ventures and make out profits in a competitive environment as more than 600 multinational companies are successfully operating in Pakistan, he added.
Based on the three pillars of deregulation, liberalization and privatisation, the economic reforms have resulted in very impressive economic growth over the last several years, with dramatic improvement in all major economic indicators, which have completely transformed the economy and placed it on the path of rapid growth, he said.
Mr. Wasi Zafar further stated that the government’s broad based and comprehensive privatisation program, its attractive, liberal investment policy and the exciting investment opportunities in Pakistan today have yielded record results. Pakistan has comprehensive and broad based Privatisation Program, which provided attractive opportunities and PC Ordinance 2000 has given statuary cover to the whole process, he added.
The Minister further informed that Pakistan has so far privatised 166 public sector units raising US $ 7 billion since 1991 while 87 % of the privatisation was completed during the recent 7 years realizing around US $ 6.1 billion through the privatisation of 61 transactions. Our Privatisation Program provides a number of opportunities in Oil & Gas, Power, Engineering, Financial Institutions, Minerals, Tourism and Restaurants sectors, he informed.
Mr. Mushtaq Malik Secretary Board of Investment (BOI), Mr. Ahmed Jawad, Federal Secretary Ministry of Privatisation & Investment and senior officials of PC and BOI were after also present on this occasion.