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UN-backed task force set up to reduce risks of flying over conflict zones -
UNITED NATIONS, Aug 1 (APP): In the wake of the recent downing of a Malaysia airlines plane over eastern Ukraine, the United Nations and its partners have set up a task force to reduce the risks of civilian planes flying over conflict areas and ensure that the "right information reaches the right people at the right time."


Israel and Hamas agree to 72-hour humanitarian ceasefire -
UNITED NATIONS, Aug 1 (APP): Israel and Hamas have agreed to a 72-hour pause in their three-week conflict, the United Nations and the United States announced, allowing for both sides to begin talks on a longer-term ceasefire.


Pakistan stresses strengthening peacekeeping and global and regional partnerships -
UNITED NATIONS, July 31 (APP): Pakistan has called for strengthening partnerships between global and regional organizations in the field of peacekeeping to enable the international community to respond more quickly and effectively to violent conflict and promote solutions.


Washington conference explores Pakistan's options to meet exponential energy needs -
WASHINGTON, July 31 (APP): Pakistan's energy crisis could best be addressed through a holistic approach integrating immediate improvement in current generation and supply systems with judiciously planned exploitation of diverse sources, top experts emphasized at a one-day conference.


Deadly shelling of another UN school in Gaza draws condemnation -
UNITED NATIONS, July 30 (APP): As another United Nations school serving as a shelter for Palestinians in Gaza was hit by shells on Wednesday, killing children, senior UN officials strongly condemned the attacks and warned against the targeting of civilians.


Sport News
National ranking tennis tourney from Aug 2
ISLAMABAD, July 31 (APP): Pakistan Tennis Federation (PTF) will hold Warid National Ranking Tennis Tournament from August 2-7 here at PTF Complex.
 
FIH announce teams for Youth Olympic Games
ISLAMABAD, Jul 31 (APP): The International Hockey Federation (FIH) has announced the 20 teams that will be competing in the Hockey competition at the 2014 Youth Olympic Games in Nanjing next month.
 
Warid national ranking tourney from Aug 2
ISLAMABAD, July 30 (APP): Pakistan Tennis Federation (PTF) will hold Warid National Ranking Tennis Tournament from August 2-7 here at PTF Complex.
 
FIH announce teams for Youth Olympic Games
ISLAMABAD, Jul 30 (APP): The International Hockey Federation (FIH) has announced the 20 teams that will be competing in the Hockey competition at the 2014 Youth Olympic Games in Nanjing next month.
 
Sarfraz urges players to focus on physical fitness
ISLAMABAD, July 29 (APP): Former Test Cricketer Sarfraz Nawaz has urged the national players to work on their physical fitness keeping in mind the tough weather conditions of Sri Lanka in August.
 
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Latest News
Moving towards Self-Managing Energy Systems in buildings - Fata Health Directorate holds free mobile team for IDPs - Saad Rafiq criticise PTIís politics - Women, kids among six die in road accident - 122nd birth anniversary of Madr-e-Millat observed - CM visits late Majid Nizamiís residence
Pakistanís strong economic indicators, attractive for foreign investment in power, oil sectors PDF Print E-mail
By Shumaila Andleeb

TIANJIN, China, Sept 12 (APP): Prime Minister Raja Pervez Ashraf on Wednesday, mentioning Pakistan’s strong economic indicators, said the country was an attractive zone for foreign investment, particularly in power, oil and gas exploration and infrastructure development sectors. The Prime Minister expressed these views while leading  a discussion of the Business Interaction Group on Pakistan at the Meijiang Convention Centre - the venue of ongoing World Economic Forum’s Annual Meeting of New Champions. Dilating upon Pakistan’s macro-economic stability and liberal investment policy, the Prime Minister said country’s economic consistency, openness and predictability in policies were vital factors in providing foreign businessmen an enabling environment for their investment.

He said his government was committed to facilitation of business, reforms and deregulation in pursuance of its economic philosophy.
He mentioned Pakistan’s strategic location next to three important regions - South, Central and West Asia, that provided a shortest access to the energy-rich and fast developing Central and Western Asia.
He said for the economic world, the country could prove a bridge, linking to multiple corridors of cooperation in energy, trade, investment, transportation and tourism.
Prime Minister Ashraf said due to macro-economic stability, the country’s economy was expected to grow by over four percent this year. He said country’s banking sector had withstood the global financial crisis of 2008 with the help of its exports that grew by 30 percent in 2011.
On liberal investment policy, he said all sectors of economy were open to Foreign Direct Investment (FDI). In addition, there was no restriction on equity as foreigners were permitted hundred percent foreign equity, statutory protection, and high rates of return accrued to investment.
He said there were institutional safeguards provided in the system like Competitive Commission, the Security and Exchange Commission and Central Bank. He said Pakistan had a non-discriminatory investment policy for all countries.
The Prime Minister said Pakistan was a country of 180 million with a growing middle class and an increasing demand for goods and services. He mentioned that abundant and unexploited natural resources including coal, oil, gas, water and irrigation systems and minerals had great potential of exploration.
He said investment in power sector could be made in the areas of solar, wind, renewable energy, solar tubewells, hydro and thermal power generation. He said opportunities also existed in modernization and refurbishment of ports and railways. He informed the Business Group that a Korean company had shown interest in constructing a 300 mega watt solar power plant in Balochistan.
He said recently an upfront tariff had been determined for solar energy plants which would help the investors.
To a question, the Prime Minister said Pakistan was working to have good relations with India including trade ties. He mentioned the recent visit of Indian External Affairs Minister S.M Krishna to Pakistan and the discussions carried out on easing the visa regime and cooperation in agriculture sector.
Regarding facilitating the overseas Pakistanis, Raja Ashraf said their confidence in the country was reflected through increase in remittances.
Finance Minister Dr Abdul Hafeez Sheikh said the middle class expatriates could benefit from investment in stock exchange.  He said an investment fund was being set up for expatriates. He said housing schemes had been launched to attract investment from expatriates.
There were also a few questions about increasing cultural exchanges with India to which the Prime Minister mentioned a recent agreement. He said relations with India were being improved step-by-step in a positive way.
 

     

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