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Intechmart opens on 15th in Lahore

RECORDER REPORT

ISLAMABAD: The United Nations officials here announced that they were convening a three-day International Technical Mart (Intechmart) Pakistan-2000 to lay down some 100 prime opportunities for industrial investment and technology transfer in the country.

The exhibition is being organised by the United Nations Industrial Development Organisation at Lahore from February 15 to 17 and expected to be participated by some 500 foreign investors.

The UN Information Centre here said this would be the first major gathering of foreign investors in Pakistan since the "current government came to power last October".

The officials hope that in organising the event, the Unido was building on the government's thrust to attract new investments at a time when "renewed investor confidence will prove crucial to accelerating Pakistan's industrial programme".

They quoted Federal Commerce Minister Razak Dawood's earlier optimism about upward trend in the stock markets, export performance and also about the renewed flow of foreign investment and said that the government's pursuit of structural reforms, deregulations and privatisation in a transparent manner would spur the activities.

There will be more than $1.6 billion worth of projects on offer at the Intechmart which will include petroleum products and oil refining for Balochistan and establishment of a national cleaner production centre in Lahore.

The Unido Director General, Carlos Magarifios has described the forthcoming event as "an important milestone" in which his organisation's support had been sought to improve existing local capacities in the area of investment and technology promotion.

The Unido will also encourage a series of direct business meetings between Pakistani project sponsors and the potential investors or suppliers from abroad.