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Gold9472
04-14-2007, 05:03 PM
Pak to get $5bn foreign investment this year: PM

http://www.onlinenews.com.pk/details.php?id=110980

4/14/2007

Karachi: Prime Minister Shaukat Aziz has said that the country will receive foreign investment to the tune of 5 billion dollars this year, the highest ever investment amount in the economic history of Pakistan.

"Pakistan will Inshallah be the fastest growing country in Asia this year too with an estimated foreign investment of five billion dollars, which will be the highest ever since the creation of Pakistan”, he said while addressing the inauguration of the 5th general assembly of World Memon Organisation (WMO) at a local hotel on Saturday.

Governor Sindh, Dr Israt-ul-Ebad, Federal Minister for Information, Muhammad Ali Durrani, special assistant to prime minister, Commander rtd Khalil-ur-Rehman and others were also present on the occasion.

The prime minister said that the target of 7 per cent growth rate this year would be achieved successfully as all the economic indicators were showing an upward trend.

Currently, he said, the foreign investment shares almost 20 per cent of the total GDP, which too was the highest ever in the country’s history.

“Foreign investors are looking towards Pakistan as a country, which is changing ,and rising”, Aziz said adding that the country was heading in right direction with unprecedented opportunities for foreign as well as local investors.

“Some people say that our economic growth is the result of 9/11 incident. I would like to tell them that 9/11 has passed. No one remembers 9/11 now. Our economic progress is the result of good governance, and our transparent, consistent and investment-friendly policies”, he maintained.

He said the country, this year, would have the highest ever growth in the rural development in Pakistan’s economic history.

The prime minister claimed that the middle class was on the rise in the country due to his government’s successful economic policies. “ No doubt, we have achieved a lot. However, still 25 per cent of our population lives below poverty line, and we have to do more to improve their life standard”, he added.

Talking about Pak-India peace process, Aziz vowed that the process would continue as Pakistan believed in resolving all the disputed issues through talks. “ War is not the solution of diplomatic related issues or any other problem. All the issues can be resolved through dialogue”, he added.

“But we must remember that peace is achieved through strength. Our nuclear and missile programme is an umbrella to protect our sovereignty, and maintain peace in the region”, he said.

The prime minister said that trade and diplomatic ties between Pakistan and USA were improving with every passing day.

Recently, he said, the Russian prime minister had visited Pakistan, which was the first visit of any Russian premier in last 38 years, which showed the success of his government’s foreign policy.

“Why these people are coming to Pakistan? They are coming to see a modern, rational and rising Pakistan”, he contended.

Aziz observed that a peaceful and developed Afghanistan was in favour of Pakistan. “We are trying to improve our ties with Afghanistan. If there is peace in Afghanistan, it will directly favour us”, he added.

At present, he said the trade volume between the two neighbouring countries was 1.2 billion dollars as compared to merely 50 million dollars five years back.

He said that a bad period in Pak-Iran relations had passed, and now the two countries were enjoying exemplary relations. Pakistan was going to procure electricity from Iran to cope with its growing energy needs, he added.

Rejecting the notion of clash of civilisations, the prime minister said he did not see any clash between the civilisations. "We are not different than other nations. We want peace and progress like any other nation, he maintained.

Aziz observed that some circles were demonizing Islam in the west. I want to tell them that a few misguided Muslims do not represent the entire community”, he said and added “we are proud of being Muslim but we have to project our faith as a balanced faith”, he thought.

He said the young generation would be an asset of the country if it was properly guided. “We have 100 million people out of total 160 million below 25 years of age. They could be a real asset and the biggest engine of growth for us if we guide and train them in the right direction”, he opined.

“ Various developed countries, like Japan are facing an age dilemma, but fortunately we don’t have this problem. If we use our young generation properly, they can turn out to be the biggest engine of growth”, he added.

Aziz said his government was taking more steps to empower women and ensure their rights. “Women rights does not mean westernization. We should be proud of our religion and traditions”, he said.

He lauded the services of Memon community in the creation and development of Pakistan. Eulogizing the services of renowned social worker Abdul Sattar Edhi, he said that Mr Edhi had earned a good name to Pakistan and the Memon community as well.

The prime minister presented a lifetime achievement award to Mr Edhi on behalf of the WMO.

The WMO chairman, Haji Abdul Razzak, vice chairman, Sir Iqbal Sackrani, and Pir Muhammad Kalia also spoke.