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UN General Assembly adopts Pakistan's resolution reaffirming peoples' self-determination right -
UNITED NATIONS, Dec 18 (APP): The UN General Assembly on Thursday stamped its approval on a Pakistan-sponsored resolution reaffirming that  the universal realization of the right of peoples to self-determination was a fundamental condition for the effective guarantee and observance of human rights.


UN chief urges greater attention to 'precarious' situation of migrants -
UNITED NATIONS, Dec 18 (APP): Far too many migrants still live and work in precarious and unjust conditions, Secretary-General Ban Ki-Moon has said Thursday in a message to mark International Migrants Day.


US-based Muslim body calls Peshawar attack against 'every Islamic value' -
NEW YORK, Dec 18 (APP): The Islamic Circle of North America strongly  condemned the" senseless and brutal attack" on the Army Public school in Peshawar, which killed 141 individuals, 132 of them children, and injured 124 others.


UN chief hails US-Cuba decision to normalize relations -
UNITED NATIONS, Dec 18 (APP):  United Nations Secretary-General Ban Ki-moon has welcomed the "very important step" taken by the leaders of the United States and Cuba towards normalizing relations between the two countries.


UN to help strengthen vulnerable countries' capacity to combat terrorism, extremism -
UNITED NATIONS, Dec 18 (APP): Secretary-General Ban Ki-moon, who has strongly condemned the Taliban attack on the Army Public school in Peshawar, said Wednesday that the United Nations was planning to strengthen the national capacity of countries to deal with terrorism and extremism.


Sport News
Younis Khan becomes oldest Pakistani to score a century in ODI
ISLAMABAD, Dec 18 (APP): Although Younis Khan’s hundred in the third ODI against New Zealand at Abu Dhabi went in vain, he did create a record on the way, becoming the oldest Pakistani batsman to score a one-day hundred.
 
Pakistan A, Kenya series to continue as per schedule
ISLAMABAD, Dec 17 (APP): Kenyan cricket team will complete its ongoing series against Pakistan A, a Pakistan Cricket Board (PCB) official said on Wednesday.
 
Murtaza Javed Abbassi congratulates boxer Amir Khan
ABBOTTABAD, Dec 15 (APP): Deputy Speaker National Assembly, Murtaza Javed Abbasi congratulated British born Pakistani boxer Amir Khan on becoming champion in Silver Welterweight category.
 
Hockey team to get a warm welcome: Rana Mujahid
ISLAMABAD, Dec 15 (APP): Secretary General Pakistan Hockey Federation (PHF) Rana Mujahid Ali said Monday that national hockey team would be given a warm welcome at Wagah border on its arrival back at home from India.
 
International Zahid Tufail of Army wins National Skeet Shooting Championship
PESHAWAR, Dec 14 (APP): International shooter Zahid Tufail of Army clinched the gold medal after a two times tie-breaker with Imdad Sherpao of Khyber Pakhtunkhwa in the final super round of the National Skeet Shooting Championship played here at Army Shooting Range, Garrison Park on Sunday.
 
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Latest News
Efforts to be made to ensure rule of law, peace in country: Khurram - Nation stands united at this time of adversity: Pervaiz - Meeting discusses measures for recovery of outstanding electricity d... - Mitsubishi Delegation meets Finance Minister - Gen. Raheel Sharif signs death warrants of six terrorists - Ahsan stresses need of unity to confront challenges
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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