LAHORE - Pakistan is fast attaining the status of Business Opportunity Zone (BOZ) for potential foreign investors because it is not only the energy sector where investments would earn rich dividends but huge untapped mineral resources of trillion of dollars worth are a great attraction for foreign businessmen.

This was stated by LCCI President Irfan Qaiser Sheikh while talking to Canadian Asia division Analyst Christopher Martin, First Secretary Canadian High Commission John Gosal and Director Asia division Elyas Irfani on Saturday. LCCI Senior Vice President Kashif Younis Meher and Vice President Saeeda Nazar also spoke on the occasion and gave their point of view on country’s economic strengths and weaknesses.

The LCCI President informed the visiting delegation that the agriculture sector also offers a huge potential particularly any investment made in livestock and dairy sectors is bound to make big gains. The LCCI President said that economic indicators were fast turning positive, law and order situation is also becoming satisfactory while investment climate is picking up with every passing day. The availability of cheaper skilled and unskilled labour, low priced land as compared to other regional countries and an infrastructure of international standards would definitely create a win-win scenario for global investors.

He urged the Canadian officials to send a business delegation to Pakistan so that it could have first hand knowledge about the available opportunities here as the Lahore Chamber of Commerce is planning a sector-specific delegation to Canada in coming months.  Talking about MFN to India, the LCCI President said that Pakistan and India have much more to gain from improved bilateral trade.

But the caveat is that the trade between the two countries is hassle-free, barrier-less and removed from historical baggage. In the presence of Core Issues between the two countries and Indian NTBs, the desired economic results would be a day dreaming. Pakistan government would have to ensure a level playing field. Quoting an example of electricity tariff, the LCCI President said how industry could remain competitive at high price of electricity when in India, for industry it is 10.5 cents, in Bangladesh 10.75 cents and Sri Lanka it is 10.75 cent.