Strong economic fundamentals create enabling environment for private sector: President

RAWALPINDI : President Pervez Musharraf Wednesday said the strong economic fundamentals of country have created an enabling environment for the private sector to become engine of growth and as a result of this as well as due to its liberal and investment-friendly policies Pakistan has become one of the attractive destinations for investment.

The President made these remarks while talking to Jean Jacques Gauthier, Head of Corporate Finance and Member of Central Executive Committee of M/S Lafarge, the world’s largest cement and building materials company based in France, who called on him here.
Gauthier said that due to the stewardship of President Pervez Musharraf Pakistan has become an investment friendly country and they were investing in Pakistan because of the economic buildup in the country which they have witnessed in the last seven years.
He said that the Lafarge group has invested in the cement sector by setting up cement factories and has also purchased a sick unit and transformed it into a profit earning entity.
Gauthier said that the construction industry has enormous potential in Pakistan as a result of the economic boom which the country has achieved during the last seven years.
He said that several new markets have emerged in Pakistan and the demand of the country has risen from 11 million tons to 37 million tons. He said that he was delighted to be here and looked forward to new ventures and ideas in the country.
The President emphasized that Pakistan owing its geo-strategic location was the hub between Middle East, Iran, Afghanistan, Central Asia and South Asia.
Industrial and manufacturing units would have outstanding and excellent opportunities to not only benefit from Pakistan’s requirements but would also be able to supply their products throughout Pakistan and in the region, he added.
The President said Pakistan itself was a large market as it has ambitious public sector development plans which included dams, hydro-power projects, canals, highways and construction activity in the private sector.