960421

MoU to promote investment

in NWFP signed with Australia

ISLAMABAD: Pakistan and Australia on Sunday signed a Memorandum of Understanding (MoU) for cooperation and collaboration in promoting investments in NWFP in all areas of mutual benefit including agriculture, hydel potential, mineral resources, tourism industry and railways.

Former Australian Prime Minister Bob Hawke and Asif Ali Zardari, MNA and Chairperson, Pakistan Environment Protection Council witnessed the signing ceremony after a threadbare briefing on Privatization process and National Highways in Pakistan.

The ceremony was also attended by S Bob Hawke, Special Assistant to the Prime Minister on Energy Sector Shahid Hasan Khan, Chairman, Privatization Division Syed Naveed Qamar, Additional Secretary, Prime Minister Secretariat Waqar Masood, President, Muslim Commercial Bank, Hussain Lawai, President, Allied Bank Limited Shaukat Kazmi, Secretary Privatization Division, Abdullah Yusuf and other officials.

R.J Hawke, R.J.Hawke Associates, Sydney, Australia and Bashir Ahmed, Secretary, NWFP's Investment Committee, signed the MOU.

The Austrilian side expressed its keenness for investment in Pakistan inter-alia in the sectors of agriculture, hydel energy, minerals and railways.

In line with the policies of federal government for the promotion of foreign private and public investment in various sphere of economic activity, the NWFP has set up its investment committee to deal with the policy matters related to investment and private sector participation in industries, minerals, gemstone mining and gemstone marketing, promotion work/self employment/youth employment, agriculture industry/loans, development of infrastructure, tourism, power, commercialization reforms, privatization of units/projects banking and environmental conservation.-APP