Economic Reforms being institutionalised in Pakistan: PM
By Sarah Kamal 'Pakistan Times' Special Correspondent

ISLAMABAD: Prime Minister Shaukat Aziz Wednesday said economic reforms introduced in the county to attract foreign investment are being institutionalised and assured the foreign investors that there would be consistency and continuity in these policies.

Addressing the opening session of two-day Euromoney Investment and Finance Conference organised by Board of Investment here at local hotel, the Prime Minister said the next elections, which will be held in a fair, free and impartial manner, would further strengthen the economic polices of the PML government as it has been working for the welfare and betterment of the masses.

Shaukat Aziz urged the foreign investors to take full advantage of the liberal, investment friendly and economic policies and equal opportunities to invest in various sectors including oil and gas development, improvement of infrastructure, banking and services sectors.

The Prime Minister said besides legal reforms at all levels, the government has also been encouraging alternate dispute resolution mechanism so that the foreign investors should be encouraged to invest in Pakistan without any legal difficulty.

He said, "Our economic reforms are driven by the philosophy of deregulation, liberalization and privatization with the central trust to create an enabling environment for the private sector to become an engine of growth."

The Prime Minister said the government has been working with a view to improve investment climate in the country with multi-pronged programmes marked by financial and taxation reforms. He said Pakistan has become one of the attractive destination for investment due to its liberal and investment friendly policies.

He especially mentioned the passage of Fiscal Responsibility Law to ensure restrictions for borrowing beyond a certain limit.

The Prime Minister said Pakistan is open for business and the country is the most profitable destination for foreign investment.

He urged the investors to take full advantage from the economic dynamism present due to privatization, stock markets, capital markets and asked them to bring their skills and capital in manufacturing, agriculture services or natural resources.

The Prime Minister said Pakistan also required investment for quality education, provision of better healthcare, tourism infrastructure, urban renewal and mega city programmes as well as developing rural economic infrastructure.

He especially mentioned the prospects in the agriculture sector and said that Pakistan is the fifth largest milk producing countries and there is vast scope to further development agri-sector.

The Prime Minister said one of the multi-national company has been setting up the largest milk producing plant of the world in Pakistan. ●