PM pitches for more US investment in Pakistan

WASHINGTON - Stating that there has been a marked improvement in Pakistan’s internal security situation, Prime Minister Mian Muhammad Nawaz Sharif on Wednesday called for more investment by US companies in Pakistan as well as more access to US markets.
“The United States remains one of the most important economic trading partners of Pakistan,”Nawaz Sharif said in a speech during his luncheon at the US Chamber of Commerce, which was organised by the United States-Pakistan Business Council
In remarks at the event a day before a scheduled meeting with President Barack Obama at the White House, Sharif noted Pakistan’s government deficit is falling even as its middle class expands, attracting favourable new ratings from Western analysts.
Pakistan “has emerged as an attractive and thriving market,” the Prime Minister said, adding, his country will continue to support US companies investing in Pakistan businesses and asked for more access for Pakistan in US markets.
The US is the largest singe export market for Pakistan, but the US does not even rank in the top five among nations importing to the Pakistan market. There Prime Minister, therefore, invited the US investors to use diverse areas for investment in Pakistan and benefit from some of the most attractive investment regimes, offered anywhere in the world to foreign entrepreneurs.
He said current year witnessed lowest number of terrorist attacks as compared to 2007 and positive results were visible.
He said the Operation Zarb-e-Azb was a success and has broken the back of the terrorists.
He also pointed to the upgraded ratings by international Rating Agencies and said all these positive assessments have been made on the back of a market turnaround in country’s economy.
The per capita income has increased by 12 per cent, fiscal deficit has lowered, while revenues have increased by 33 per cent, foreign exchange reserves have risen considerably, while inflation was at its lowest, he said.
He said that his government was working on numerous projects to end power load-shedding by 2018.
He said that overcoming energy shortage was  one of his top priorities.
The Prime Minister also spoke about the successful sale of the 3G and 4G spectrum and continue to take measures to improve country’s economy.
Pakistan was also working on the ambitious multi-billion dollar China Pakistan Economic Corridor, which he said offers numerous investment opportunities to foreign investors. The project would also benefit the entire region and help boost trade and economic cooperation between the regional countries, he added.
He also mentioned the Turkmenistan-Pakistan-India gas pipeline project and several road and rail linkages that  would connect it to Central Asian Republics.
The Prime Minister said Pakistan was desirous of having peaceful ties with all its neighbours.

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