Country is facing major challenge of terrorism, says PM.

ISLAMABAD, October 22, 2009 (Frontier Star): The Prime Minister Yousuf Raza Gilani said today country is facing major challenge of terrorism and negative perception of the country abroad. In his opening remarks at the 3rd Board of Investment (BOI) Board meeting at the Prime Minister's House here Thursday, Prime Minister Syed Yusuf Raza Gilani has affirmed his Government's strong commitment towards reviving economy, providing employment and eliminating poverty through increased foreign and domestic investment. He directed the BOI to evolve long term strategy by which Pakistan can be seen as most attractive destination for investment. The Prime Minister said today's country is facing major challenge of terrorism and negative perception of the country abroad. He said the challenge has to be met to eradicate this menace and attracting foreign and domestic investment by providing a long term vision through adjusting policy and offering better returns on investment to make it attractive. Paying rich tribute to the leadership and vision of Shaheed Mohtarma Benazir Bhutto, who back in 1989 foresaw the necessity of having an Investment Promotion Agency, now grown into the Board of Investment and acquired status of a Ministry, the Prime Minister called upon them to make tireless efforts in a harmonious way to make Pakistan, a preferred destination for private investment. The Prime Minister emphasized that BOI must follow its objectives and ensure that they act as one window for investors not only at Islamabad but extend this facility at commercially important cities like Karachi, Lahore, Quetta and Peshawar through its sub offices. The Prime Minister said that the challenges faced by the country are though enormous, but the government will endeavour to achieve and sustain a GDP growth rate of around 7% to 8% per year to accommodate basic needs of an ever increasing population, alleviate poverty and generate employment. The Prime Minister directed BOI to double its efforts towards attracting more FDI in manufacturing, agriculture, oil and gas, and power sectors. He further directed BOI to hold the Board meeting every three months. He hoped that Pakistan would not only become self sufficient in food products but would also serve as regional hub to export agro products. Underlining the importance of private sector for the economic development of the country and public sector limitation due to resource constraints, the Prime Minister asked BOI to promote the concept of public-private partnership by encouraging private sector to benefit from Special Economic Zones (SEZs) scheme introduced by the government.

(THROUGH ASIA PULSE)