Pakistan assures investors of continued economic growth

Karachi, Pakistan | November 28, 2007 by D-8 Secretariat

Pakistan will continue to register growth and financial strength despite recent political developments and its fallout in the country, Federal Finance Minister, Dr Salman Shah said on Tuesday, as reported by Economic Coordination Division of Foreign Affairs Ministry of Pakistan. He was speaking at a luncheon given in his honor by members of the Overseas Investors Chamber of Commerce and Industry (OICCI), a representative body of foreign investors in the country.

Dr Shah discussed the investment outlook for Pakistan in the coming years and described it as very positive. He highlighted the achievements of the government, which he said had made great progress under the leadership of President Musharraf. The finance minister stressed that the country was able to attract huge amounts of investments over the past few years due to which foreign reserves stood at the record levels of about US$14 billion. He assured OICCI members that the economic growth which the country has witnessed under the present government would continue and that the government is “very keen on the continuation of economic activity.” “Consumer economy has brought a boom in the country and the future outlook is positive. Also, the rural economy is now ready to take off in a big way,” Dr Shah said, adding that Pakistan was considered the third largest growing economy in the Asia Pacific region.

OICCI president, Zubyr Soomro, appreciated efforts made by the government in attracting foreign investment in Pakistan and also highlighted the fact that it was only possible due to consistency in economic polices. He commented that all political parties wishing to contest the forthcoming elections should go public with their agenda for the economy as this will help long-term investment prospects. “This chamber, like the rest of the country, will be keen to know about future economic policies from major political parties and what will they do to ensure consistency in economic reforms,” Soomro said, adding that the OICCI would be happy to host interactive sessions for political leaderships wishing to interact with member companies on economic issues.

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