Pakistan emerging as leading country lucrative for investment: CM


LAHORE: Chief Minister Shahbaz Sharif has said that Pakistan is emerging as a leading country lucrative for investment because of provision of one-window facility to investors in all sectors, including energy, to help expedite entire investment process. He said that there was no restriction on foreign investors to transfer their profits back to their home countries and that foreign entrepreneurs should benefit from this investment-friendly atmosphere to the maximum. He also assured them provision of all-out facilities and protection.According to a handout, the chief minister expressed these views during his meetings with foreign investors in London on Thursday. Inviting his guests to invest in different sectors in Pakistan, especially in Punjab Province, the chief minister assured them that every penny of their investment would be considered sacred trust. He said that the government was fully cognisant of security concerns of foreign investors and that these reservations would be addressed on a priority basis. He said that economic indicators were improving because of effective measures taken by the Pakistan Muslim League-Nawaz (PML-N) government led by Prime Minister Nawaz Sharif and that Pakistani rupee had appreciated about 15 percent against US dollar recently. He said that due to this appreciation of the Pakistani currency, foreign loans had reduced by Rs 800 billion while the stock market was touching new heights because of restoration of the confidence of investors. He said that trade deficit had decreased and the tax to gross domestic product (GDP) ratio had increased because of economic policies of this government.  He said it has been the hallmark of the PML-N governments that solid measures were taken to improve the living standard of the people. He said that the current PML-N government had also achieved the target of economic development through strenuous efforts during the last 11 months.He said that there were vast reserves of copper, iron, coal and other minerals in Pakistan while gas was also available in abundance, making it a country conducive to investment. Chief Minister Shahbaz further said there were vast opportunities of investment in energy, livestock, dairy and information technology sectors. Referring to Pakistan-United Kingdom relations, the chief minister said that over 70 UK companies were operating in Pakistan and added that this number would substantially increase in the coming days. He said that the former government paid no attention to solving problems of the people because of its negligence and inefficiency while the present government was trying to rectify the situation. He said that he was confident that destiny of the country would be transformed very soon. He said that tax recovery system was being improved while transparent utilisation of resources had been ensured in execution of development projects. He said that the PML-N government was making speedy progress on every front and that production of industrial, agriculture and other sectors was also increasing because of its effective measures.

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