KARACHI - Pierlite, the largest Australian lighting company based in Sydney, is all set to invest $20 million in Pakistan by launching a joint venture company under the name of Pierlite Pakistan. In this connection, a formal launching ceremony was held here at a local hotel with Australian High Commissioner Ms Zorica McCarthy as chief guest on the occasion. The investment in Pakistan is one of many global investments by the group to reach their Global sales target of $1billion. "This new Joint Venture will bring foreign investment in Pakistan by an Australian Group giving new products, design technology and of course employment opportunities to the people of Pakistan by setting up local production facility", said Australian High Commissioner Ms. Zorica McCarthy. She said, "I am glad to know that Pierlite Group wishes to set up a "State of the Art" factory to produce top quality lighting products for domestic market and to export to neighbouring Middle Eastern Countries". She added, "Current Development in Pakistan and construction boom in neighbouring Middle Eastern Countries will surely provide an opportunity to Pierlite to grow business in this part of the world". Speaking on the occasion, Director Pierlite Pakistan, Mr. Pervez H. Madraswala said, "Appreciation of Pierlite's products in Pakistan paved way for a new joint venture company Pierlite Pakistan (Pvt) Ltd in collaboration with Pierlite Australia to cater to the lighting need of the country and neighboring markets". Madraswala said, "Pierlite Pakistan is currently expanding its sales and distribution facilities throughout the country. We are planning to invest around $20 million in Pakistan to set up local production facilities as well". PR