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Intechmart-2000 opens

CE's economic revival plan starts producing positive signs: Jabbar

RECORDER REPORT

LAHORE: Adviser to the Chief Executive on Information and National Affairs, Javed Jabbar, claimed on Tuesday that the economic revival plan and steps introduced by the present regime for restoration of investors' confidence as well as making conducive atmosphere for foreign investment have started reflecting positive signs.

He was addressing the inaugural session of a three-day Intechmart-2000 Pakistan conference here at a local hotel. As many as 50 investors from 10 countries, including US, UK, China, Hong Kong, Japan, Korea, Italy, Saudi Arabia are attending the event.

The Board of Investment (BoI), Export Promotion Bureau (EPB), Federation of Pakistan Chambers of Commerce and Industry (FPCCI), United Nations Industrial Development Programme (UNIDP) and United Nations Development Programme (UNDP) have jointly organised the conference.

The Intechmart will focus on a series of one-to-one business meetings between Pakistani project sponsors and potential investors or suppliers of technology from abroad. Partnerships are being sought through joint ventures, technology tie-ups and equipment purchases, buy-back arrangements, sub-contracting, marketing access, joint R&D and other commercial linkage.

Javed Jabbar said that it was the main objective of the government's economic policy to bring down the poverty rate in the country to the maximum level. He said that the present government introduced its economic policy under the name of 'Revival Plan' only after 60 days of assuming power.

Adviser to the chief executive further stated that the previous government had granted so-called autonomy to the State Bank of Pakistan, but continued exerting political pressure on it to paint a rosy picture of the economy.

He said that recent six-month report of the State Bank of Pakistan has recently been made public, which shows the economy in a baffling state.

"As this six-month period reports includes only two-and-a-half months of the present government's performance, we are not much worried about it."

However, he complained that the positive signs of the economy has shown during the last couple of months have not been mentioned in the report.

He, also invites investors to visit Pakistan next year and see the difference in what he said `sayings and doings' of the present regime. He said that the past governments have been wasting public money on `showpiece projects'. But on the contrary, the present government was concentrating on development of small and medium size enterprises, he claimed.

Javed Jabbar also criticised the media for not presenting true picture of the national states of affairs. The present government, he continued, has given the media full freedom of expression and the newspapers, especially the Urdu language daily have emerged as the `critics' of the government policies.

Earlier, Acting President of the Federation of the Pakistan Chambers of Commerce and Industry (FPCCI), Mahmood Ahmed, in his address of welcome highlighted the objectives of the conference. He said that the participants would be provided full information about technology and joint venture opportunities existed in Pakistan.

UNDP resident representative, Onder Yucer, and Deputy Director General UNIDO and Managing Director Institutional Capacity-building Division to Intechmart-2000 Pakistan, Dr. Yo Maruno, also spoke on this occasion and highlighted the conducive environment of Pakistan about foreign investment and the joint venture opportunities.