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SAARC leaders vow for peaceful, prosperous South Asia -
KATHMANDU, Nov 27 (APP): The leaders of SAARC region Thursday resolved to develop South Asia into a peaceful, stable and prosperous region by enhancing regional connectivity and increased cooperation in trade, energy, security and infrastructure.


PM leaves for home after attending SAARC Summit -
KATHMANDU (Nepal), Nov 27 (APP): Prime Minister Muhammad Nawaz Sharif left here Thursday for home after attending the 18th Summit of the South Asian Association of Regional Cooperation (SAARC), held in the Nepalese capital on November 26-27.


Pakistan to host SAARC summit in 2016 -
KATHMANDU, Nepal, Nov 27 (APP): Pakistan will host the 19th summit of South Asian Association of Regional Cooperation (SAARC) in Islamabad in 2016, the concluding session of 18th SAARC summit announced on Thursday.


PM attends SAARC's retreat, concluding session -
app12-27pm-kathmandu.jpgKATHMANDU, Nepal, Nov 27 (APP): Prime Minister Muhammad Nawaz Sharif on Thursday attended the retreat and concluding session of South Asian Association for Regional Cooperation (SAARC) held here on the second day of the 18th summit.


Sharif, Modi's warm handshake at SAARC's conclusion receives big applause -

app59-27pm-kathmandu.jpgBy Shafek Koreshe

KATHMANDU, Nepal, Nov 27 (APP): After weeks of speculation and tension, the leaders of Pakistan and India finally shook hands, breathing in a fresh lease of life into the eight-member regional grouping of SAARC.



Sport News
Army, WAPDA joint winners of Senior Judo Championship
ISLAMABAD, Nov 28 (APP): Army and WAPDA were declared joint winners of 23rd Senior Judo Championship, which concluded on Friday here at Hamidi, Hall Pakistan Sports Complex.
 
Sajjad routs India's Manan to storm in IBSF World Snooker semis
KARACHI, Nov 28 (APP): Mercurial Pakistan cueist Muhammad Sajjad stormed into the semi-final of IBSF World Snooker Championship when by routing Manan Chandra of India 6-1 before the home audience in the last eight round in Bangalore (India) on Friday.
 
Pakistan is progressing, peace loving country, says Denmark Ambassador
PESHAWAR, Nov 27 (APP): Denmark Ambassador to Pakistan Mr. Jesper Mollar Sorensen has said that Pakistan is a progressing country and its peoples are more enthusiasts, committed and hard workers.
 
Cricket fraternity offers its deepest condolences on Phillip's death
ISLAMABAD, Nov 27 (APP): The Cricket fraternity on Thursday offered its deepest condolences to the family and friends of the Australian batsman Phillip Hughes who passed away following an injury he suffered during a first-class match at the Sydney Cricket Ground.
 
Rashid, Rizwan get selectors' nod for Champions Trophy
KARACHI, Nov 27 (APP): Half back Rashid Mehmood and forward Muhammad Rizwan Senior got selectors nod and were named in an 18- member Pakistan squad for next month's 35th edition of Hockey Champions Trophy staged in Indian city of Bhubaneshawar from December 6 to 14.
 
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Pakistan’s 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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