960422

Absence of tradeable

intellectual property

rights obstacle to

technology transfer

RECORDER REPORT

LAHORE: Tradeable intellectual property rights are inadequately protected in the region, so there are difficulties in transfer of technology. If the priority is given to implement intellectual property rights, the problem of transfer of technology would be solved quickly. It needs long term well thought and consistent policies to attract the foreign investors in Pakistan. This was stated by Eric D. Tunis, US Consul General in Lahore in a meeting with the LSE's President Noshir F. Dastoor, Board of Directors, and LSE's former presidents.

In order to explore the LSE marketing in the USA, Eric D. Tunis said US Consulate in Lahore is ready to extend any help to the LSE management. We are also ready to initiate organizing seminars and other programmes which would help the dissemination of information in both the countries, he added. Exchange of non-governmental officials, non-governmental delegations, including businessmen, MDs of financial institutions, technocrats and executives would help both countries to expand the bases of already existing areas of mutual interest, the US Consul said.

Referring to the scope of foreign investment in Pakistan, Eric D. Tunis said, it goes without saying that Pakistan is becoming one of the favourite countries for the prospective foreign investors. Growth opportunities in Pakistan are becoming known to US investors but in order to attract them, Pakistani people have to project their ability to perform, he further added.

In order to get her due share in the inflowing capital, Pakistan has to compete and prove openness, priority and level playing field, he said.

In his welcome address, president LSE Noshir F. Dastoor said, Pakistan is a heaven for foreign investors. Tax exemptions on investment in shares and stocks are more than any country in the world. There is no tax on capital gains, and it is without any upper limit and mention of holding period. Dividend on income is taxed by 10 percent and is without any further liability of assessment, he added.

US Consul General was accompanied by James Cole, Political Officer of US Consulate General in Lahore.