Reform agenda to boost investment, economic activities: PM
By Muhammad Ali Malik

ISLAMABAD—Caretaker Prime Minister Muhammadmian Soomro Wednesday said the caretaker government would continue its journey on the path of reforms agenda to further boost the economic activities in the country.
He was talking to the delegation of investors led by Ramzan Sheikh, Chief Executive Midland Husnain Pakistan Ltd and representatives of Abraaj Capital, who called on him here.
The Prime Minister said Pakistan has emerged as a preferreddestination for investments and added the total foreign investments, has touched record level of US $ 8.5 billion which shows the confidence of the foreign investors in our economic policies.
He said now Pakistan stands on a solid footing and has strong fundamentals as well as substantive structural reforms to attract more investments in days to come. Several sectors represent attractive investment opportunities including telecom, IT, financial services, engineering, agribusiness and real estate, he added.
Giving an overview of Pakistan’s economy, the Prime Minister said the country maintained a solid economic pace in 2006-07 and achieved 7% growth. The magnitude of growth that Pakistan has achieved during the previous five years has positioned Pakistan asone of the fast growing economies in Asia, he said.
The Prime Minister appreciated the interest shown by the Abraaj Capital in further investment at the Royal Palm Golf Course in
Lahore and assured them of every possible support in this regard. The Prime Minister was apprised by the delegation that Abraaj is planning to invest approximately US$ 50-100 million in the expansion of Royal Palm project.
The delegation expressed confidence in Pakistan’s economy whichthey said is based on strong fundamentals which would attract more foreign investment.
The delegation also appreciated Pakistan government’s policiesregarding the protection of investment in different sectors.
Abraaj capital is a UAE-based investment firm specializing inprivate equity and direct investments in the Middle East, North Africa and South Asia.
Abraaj manages over US$ 4 billion of assets including seven private equity funds.