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Monday, 04 May 2015

 

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Dar meets heads of Japanese and Chinese Delegations -
BAKU, May 4 (APP): Finance Minister, Senator Mohammad Ishaq Dar met with the Chinese Head of Delegation, Jiwei Lou and Japanese Head of Delegation Taro Aso on the sidelines of the 48th Annual Meeting of ADB Board of Governors here on Monday.



Dar meets heads of Japanese and Chinese Delegations -
BAKU, May 4 (APP): Finance Minister, Senator Mohammad Ishaq Dar met with the Chinese Head of Delegation, Jiwei Lou and Japanese Head of Delegation Taro Aso on the sidelines of the 48th Annual Meeting of ADB Board of Governors here on Monday.



'Clock is ticking' for earthquake relief efforts in Nepal, top UN official warns -
UNITED NATIONS, May 4 (APP): The global humanitarian community is fighting against the clock as it delivers critical relief to Nepal's most devastated communities, a top United Nations official said Monday as she urged international donors to step up their support.


Pakistan places great emphasis on strong stable Afghanistan: Dar -
BAKU, May 4 (APP): Finance Minister Senator Mohammad Ishaq Dar on Monday said that Prime Minister Nawaz Sharif under his vision for a peaceful and prosperous neighborhood places great emphasis on strong, stable and cooperative ties with Afghanistan.


Dar meets heads of Japanese and Chinese Delegations -
BAKU, May 4 (APP): Finance Minister, Senator Mohammad Ishaq Dar met with the Chinese Head of Delegation, Jiwei Lou and Japanese Head of Delegation Taro Aso on the sidelines of the 48th Annual Meeting of ADB Board of Governors here on Monday.



Sport News
Pakistan can only salvage pride with innovative approach in 2nd Test: Yousuf
KARACHI, May 4 (APP)-  Former skipper Muhammad Yousuf was of firm opinion that without adopting innovative and aggressive approach Pakistan team cannot salvage it pride in the second Test against Bangladesh starting on Wednesday in Dhaka.
 
Pakistan must beat BD in 2nd Test to retain 3rd position ranking
KARACHI, May. 4 (APP)- Pakistan team must beat Bangladesh in the second and final Test starting in Mirpur on Wednesday to retain its latest Test ranking, International Cricket Council (ICC) announced on Monday.
 
Pakistan must beat BD in 2nd Test to retain 3rd position ranking
KARACHI, May. 4 (APP)- Pakistan team must beat Bangladesh in the second and final Test starting in Mirpur on Wednesday to retain its latest Test ranking, International Cricket Council (ICC) announced on Monday.
 
Pakistan must beat BD in 2nd Test to retain 3rd position ranking
KARACHI, May. 4 (APP)- Pakistan team must beat Bangladesh in the second and final Test starting in Mirpur on Wednesday to retain its latest Test ranking, International Cricket Council (ICC) announced on Monday.
 
9-year-old Ummam upset international Obaid steering Peshawar to victory
PESHAWAR, May 4 (APP): Nine-year-old Ummam Khawjah upset international Obaid to steer Peshawar to victory against strong Kohat in the final of the Khyber Pakhtunkhwa Inter-Region Boys Youth Games Table Tennis Championship played here at PSB Coaching Center Hall on Monday.
 
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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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