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Pakistan:US Cos. to step up investment |
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2004-9-15
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US Under Secretary of State for economic, business and agriculture affairs, Alan Larson Monday said that American companies are preparing to further invest huge amount in various Pakistani sectors.
He was talking to the reporters after holding talks with Federal Minister for Privatization Abdul Hafeez Sheikh in Islamabad.
“We are satisfied over the law and order situation of Pakistan and the American businessmen are interested to invest in Information Technology, High Tech-technology, Textile and Agriculture sectors,” the US official said.
He also talked about possibility of having a deal with Pakistani authorities for fee trade of rice. “We will talk to import Pakistani rice under a possible free trade agreement,” Alan Larson said.
Federal Minister for Privatization, Abdul Hafeez Sheikh claimed an increase of 20 percent in the Direct Foreign Investment (DFI) as compared to last fiscal year.“So far during this financial year 20 percent increase in the DFI has been noted as compared to the same period of the last fiscal,” the minister said while talking to the reporters here. The minister however did not elaborate the sectors in which the DFI has been increased. Anyway he mentioned that some American companies have invested and are considering more investment in various sectors of the country.
The recent increase in the direct foreign investment “is a net result of prudent and rational economic policies and transparent process of privatization.”
He continued as saying, “leading American companies after expressing satisfaction on the law and order situation of the country, are set to invest in the sectors of information technology, manufacturing as well oil and gas exploration.”
“The government will provide full protection to the foreign investment,” he said. |
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