NetSol Technologies
Lauded by Newsweek Asia as Contributor to Pakistan's Dramatic
Economic Revival
Calabasas, CA: NetSol Technologies, Inc.
(NASDAQ:NTWK), a developer of proprietary software applications
and provider of information technology (IT) services, was
recently among the companies highlighted in a March 2006
Newsweek (Asia Edition) story, "Promise in Pakistan."
The article highlights how new economic policy and leading
companies such as NetSol have driven the country's dramatic
turnaround from a 1990s failed state to a thriving global
player with the second largest gross domestic product (GDP)
growth rate in the world.
"We are delighted to be counted among champions of
the Pakistan economic revival," commented Salim Ghauri,
President of NetSol Technologies. "The country's leadership
and new aggressive economic policies in the late 1990s provided
the foundation for companies such as NetSol to thrive, not
only locally but on a global scale. We are proud to be recognized
by Newsweek and look forward to furthering Pakistan's success."
The article went on to highlight key factors behind what
is being hailed as one of the world's most surprising economic
success stories. After years of instability and being relegated
to the ranks of practically a failed state, Pakistan has
staged a dramatic turnaround. Last year the country's GDP
growth rate hit 8.4 percent, the world's highest behind
China, following two years of six percent growth. By focusing
on boosting fiscal discipline, government transparency and
accountability, former economic czar and current Prime Minister
Shaukat Aziz dramatically reduced the deficit, increased
tax revenues, lowered interest rates, and spurred foreign
investment. In short, the red hot economy has created tremendous
opportunity, opening Pakistan for business on a global scale.
About NetSol Technologies, Inc.:NetSol Technologies is an
end-to-end solution provider for the lease and finance industry.
Headquartered in Calabasas, CA, NetSol Technologies, Inc.
operates on a global basis with locations in the US, Europe,
East Asia and Asia Pacific. NetSol helps its clients identify,
evaluate and implement technology solutions to meet their
most critical business challenges and maximize their bottom
line. By utilizing its worldwide resources, NetSol delivers
high-quality, cost-effective IT services ranging from consulting
and application development to systems integration and outsourcing.
NetSol's commitment to quality is demonstrated by its achievement
of both ISO 9001 and SEI (Software Engineering Institute)
CMM (Capability Maturity Model) Level 4 assessment. For
more information, visit NetSol Technologies' web site at
www.netsoltek.com.
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