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World News
Spectacular fireworks along New York City's East River mark U.S. Independence Day -
NEW YORK, July 5 (APP): Hundreds of thousands of New Yorkers braved tight security to celebrate the U.S. 239th birthday with the traditional Fourth of July fireworks display Saturday night.


UN cites Cooperatives as vehicle to make sustainable development a reality -
UNITED NATIONS, July 4 (APP): Cooperatives will play an invaluable role in the international community's roll-out of a sustainable development goals, United Nations Secretary-General Ban Ki-moon, said Saturday while marking the International Day of Cooperatives.


UN welcomes new Southeast Asian States' proposals on region's refugee and migrant issues -
UNITED NATIONS, July 4 (APP): The United Nations refugee agency Saturday welcomed proposals by the Association of Southeast Asian Nations (ASEAN) to set- up a task force and trust fund to respond to the irregular movement of refugees and migrants in the region.


Afghan Ambassador called to Foreign Office -
ISLAMABAD, July 3 (APP): The ambassador of Afghanistan was called to the Foreign Office Thursday evening and a demarche was made regarding detention of an official of Pakistan Consulate General at Kandahar by Afghan authorities.


Prime Minister to visit Norway on Tuesday -
ISLAMABAD, Jul 3 (APP): Prime Minister Muhammad Nawaz Sharif  will visit Norway on Tuesday (July 7) at the invitation of Norwegian Prime Minister Erna Solberg to participate in the Oslo Summit on Education for Development.


Sport News
Leghari's ton powers Brothers CC in last-8 of in KG Ramazan cricket
KARACHI, July 3 (APP): Imtiaz Leghari smashed a whirlwind century to power Brothers Cricket Club Dadu into the last eight stage of Omar Associates 30th Karachi Gymkhana Ramazan Cricket Tournament when they inflicted 96 runs defeat on Karachi Whites Blues here at the KG Ground on Friday.
 
Pakistan's Tariq to play for Bengal Warriors in PKL
ISLAMABAD, July 2 (APP): Pakistan's Mohammad Tariq will play for Bengal Warriors in the cash-rich Pro Kabaddi League (PKL) this season.
 
PCB to appoint former LCCA official as director game development
LAHORE, June 29 (APP): Pakistan Cricket Board is all set to appoint a former interim chairman of Lahore city cricket association, Aizad Hussain Syed, as the director game development, national  cricket academy, ignoring the set criteria and merit.

 
PBF distributes sports gears among players
PESHAWAR, June 28 (APP): President Pakistan Badminton Federation Mian Iftikhar Hussain Sunday said that the so called sports pundits being head of various sportsorganizations over the years did nothing apart from their joyrides tours and protocol culture that badly damped Pakistani sports.
 
7th Ramadan Summer Squash League Matches begins
PESHAWAR, June 26 (APP): The 7th edition of the Ramazan Summer Squash League-2015 got under way here at PAF Hashim Khan Squash Complex on Friday.
 
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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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