"You don't need any NOC to set up any company or wind up your business and take away your capital, remit your profit to your parent country; how we improved our systems and functioning; World Bank and IMF have almost stepped out of Pakistan and it is altogether different from what its reputation was in the past," he remarked.
Addressing the 12th JIBA International Conference here he said even Karachi is as safe as any other place. "You move around 3 in the morning and you are safe like anybody else," he said adding that whereas, during his around 20 years stay in Washington, he could have never gone to some areas after sunset without being mugged.
President Musharraf was attacked twice in 15 days, there is an issue of international terrorism and some law and order issue on the one hand but there is high return on investment in Pakistan on the other, he argued.
In his highly convincing style, he counted the positive achievements in respect of restoration of Pakistan's economy and economic indicators which prove robust economy of the country and bright future ahead.
"Look at any economic indicator: it reflects strength to absorb external shocks," he remarked.
"There is greater level of transparency; proper rules and systems have been placed; systems is more liberated and de-regulated to ensure level playing field for everyone. Discretion and favours have been replaced by fair rules," he added.
He said that government controlled banking system is now a story of the past; 80 percent banks are in private sector and State Bank is working as watch dog.
There are lowest interest rates in the region inducing high return environment on the investment. He said the corporate sector of the country is making heavy profits as there are cheap finances available.
The interest rates dropped from 20 percent to 5 percent for corporate sector over four years, he said.
Ishrat said the economic managers of the country shifted the thrust of the finances to consumer, housing and SMEs to help boost the demand and accelerate the economic activity.
When the middle class is provided with extra money, the consumer demand rises and economic activity is multiplied for general prosperity in the society, he argued.
He said the stable exchange rates checked the dollarisation of the economy, due to which 40 percent foreign currency deposits of total deposits fell to 10 percent.
Rupee became stronger and inflation has been brought under control.
He elaborated several models and areas for initiating joint ventures. He said that the developing and designing may be kept in the west while the manufacturing facility and technology should be shifted to Pakistan so both lose nothing and both gain out of joint venture.
Elaborating the potential of Afghanistan, Central Asian States and China, he said if Pakistan gets a fraction of China's $ 1 trillion imports, it would be enough. However, he also pointed out the scope of setting up trucking, logistics, infrastructure developing companies from upcoming Gwadar Port to Afghanistan and Central Asian Republics.
He said after the confidence vote of the parliament to President Musharraf, the much suspicious issue of political stability was crystal-clear.
The smooth working of the Saarc summit also speak volumes of law and order situation in the country while the issues like Kashmir conflict, bombs and terrorists continue to exist and they won't sit calm, still the things are on brighter side, he said.