News
Sunday, May 02, 2010
‘Energy crisis, extremism, poor taxation hurdles to foreign investment’
LAHORE: Energy crisis, extremism and the taxation system are some of the basic hurdles in the way of foreign investment in Pakistan, Unites States Ambassador to Pakistan Anne Patterson said on Saturday.
She was addressing a ceremony that marked the first anniversary of the American Business Forum, a private body of US-based businessmen to boost economic development in Pakistan.
She said a non-military aid worth $1.5 billion was about to reach Pakistan from the US and the amount would be used to develop the energy, water and agricultural sectors.
She said economic cooperation between South Asian countries was essential for the establishment of peace and prosperity in Pakistan and the US was also playing its role in this regard.
Patterson also praised the efforts of the American Business Forum to help boost foreign investment and the country’s economy. Punjab Chief Minister’s Senior Adviser Zulfiqar Khosa said the Punjab government was completely aware of the problems the country was facing and was doing all it could to get rid of these problems as soon as possible.
ABF Chairman Zafar Khan said the forum had brought investment worth $422 million to Pakistan within a year while it provided three percent of the total revenue earned by the government. staff report
Courtesy www.dailytimes.com.pk