Pakistan eyes $75b investment

ISLAMABAD (AFP) - Pakistan expects to attract 75 billion dollars investment over the next five years, helping to overcome a crippling energy crisis and Taliban violence, a cabinet minister said Friday. Our target is to attract a total of 15 billion US dollars per year through foreign and local investment, said Minister for Investment Waqar Ahmed Khan, unveiling a draft policy. Our country has immense opportunities for both foreign and local investment and we have drafted this policy to cash them, he said, hailing recent military operations against the Taliban for improving countrys image abroad. People around the world are satisfied after our military offensive against the Taliban and we hope this policy will provide us good results, said Khan. Pakistan faces a catastrophic energy crisis, able only to produce 80 percent of the electricity it needs, suffocating industry, making life unbearable in extreme winter and summer, and causing widespread civil disturbance. But Khan said the government expected huge investment in the power and gas sector. Qatar has assured us cooperation in the gas sector and there are so many other opportunities, Khan said. Various foreign companies had also invested heavily in 3,500 megawatt electricity projects to meet demand, he added. Khan said Pakistan was also engaged in talks with the United States and other powers to establish rehabilitation opportunity zones (ROZs) n NWFP nd tribal areas bordering Afghanistan. We have a rough idea of establishing 10 zones in the northwestern belt with the support of US and other foreign friends, he said.

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