Pakistan, UK trade volume may cross $1.6 billion

The current $1.6 billion trade volume between Pakistan and the UK has vast potential to grow further in coming years.

ISLAMABAD:

The current $1.6 billion trade volume between Pakistan and the United Kingdom has vast potential to grow further in coming years, according to British Deputy High Commissioner to Pakistan Robert W Gibson.

At a meeting with Federal Minister for Privatisation, Water and Power Syed Naveed Qamar on Monday, Gibson labelled Pakistan’s macroeconomic policy as deeply impressive, saying it presented extraordinary liberal investment and attractive privatisation opportunities, which needed to be exploited.

“There is a vast scope for British businesses and trade groups to benefit from the attractive investment opportunities offered in the financial, healthcare, oil and gas and power sectors,” asserted Gibson.

Qamar informed the envoy that Pakistan had opened all sectors for investment and trade with a level-playing field for foreign and local investors, while also improving macroeconomic indicators through consistent economic and investment policies.

Pakistan provides attractive incentives for local and foreign investors through its privatisation and investment programme, while the Privatisation Commission has been interacting with the private sector of various countries to project investment opportunities through public-private partnership, added Qamar.

He further said that the government was committed to bringing in professional and efficient management from the private sector to enhance production, while also making value addition to national assets to make them profitable. It is also creating jobs through expansion in public sector enterprises (PSEs).

Qamar added that the upcoming equity-linked exchangeable bonds of Oil and Gas Development Company would put the country on the map of global capital markets.

In response, Gibson assured that Britain would continue to promote investment in Pakistan.

Published in The Express Tribune, March 15^th, 2011.