Rule of Law is Key to attract foreign investment: Member British Parliament

Islamabad, June 12, 2013 (PPI-OT): The Pakistani origin first elected Muslim Member of British Parliament from Glasgow Muhammad Sarwar visited Islamabad Chamber of Commerce and Industry and addressing the business community said that Overseas Pakistanis have deep love and affection for Pakistan. They are very much interested to invest in Pakistan, but factors like security problems, corruption, lack of rule of law and bureaucratic approach were keeping them away.

He said Overseas Pakistanis have huge investment potential and can bring billions of dollars into their country of origin, so much so that Pakistan will have no need of any foreign investment. But for this to happen, establishing rule of law, fair legal system, good governance etc. were the key requirements.

He said government should prepare feasibility studies of projects and share such studies with Overseas Pakistanis so that they could explore investment opportunities in their country. He said Pakistan Embassies in foreign countries should have full information and database about trade, commerce and export potential for Pakistani products in their host countries and they should facilitate Pakistani entrepreneurs to tap such opportunities for promoting Pakistan’s trade and exports.

Mr. Muhammad Sarwar said it is not the job of government to run commercial organizations and advised that government should privatize loss making public sector enterprises. For this purpose, government should make a consortium to evaluate the potential of local and overseas Pakistani investors to purchase PSEs.

In his welcome address, Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry appreciated the services of Muhammad Sarwar for Pakistan and Pakistani community. He said people like Muhammad Sarwar have rich experience as he has served as public representative in a developed democracy. Therefore, Pakistan should benefit from such experienced people.

Tahir Iqbal Ch. Member National Assembly from Vehari also lauded the services of Muhammad Sarwar and said that he rendered valuable contribution for the welfare of people during earthquake and floods in Pakistan.

Gen. (Retd) Abdul Qayyum, Ex-Chairman, Pakistan Steel Mills termed Muhammad Sarwar as proud son of soil and added that he has positively contributed to the energy and economic policies of PML-N. He said Muhammad Sarwar has good influence in Europe and he should play his role for attracting European investment in Pakistan.

Mian Akram Farid, former President ICCI lauding the services of Muhammad Sarwar said that Pakistan needs trade, not aid. He said Muhammad Sarwar should bring skilled overseas Pakistani manpower and foreign investment in Pakistan using his contacts. He also called upon the government to make 10-years long-term investment policies that would help in promoting investment in the country.

For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950

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