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  • Jul 14th, 2005
  • Comments Off on Italian businessmen keen to invest in Pakistan
Italian businessmen on Wednesday expressed willingness to invest in Pakistan, owing to investment-friendly and liberal policies of the government, in meetings with Prime Minister Shaukat Aziz here. The Italian investors and businessmen told Shaukat Aziz that they have full confidence in Pakistan economy and would explore all opportunities available there regarding investment.

Those who called on the Prime Minister included Chief Executive Officer and President ENI Paolo Scaroni, Chief Executive Officer Russo Group Russo Giovanni and Chairman and President of Finmechanica Pier Francesco Guarguaglini.

Shaukat Aziz told them that Pakistan offers level playing field to all local and international investors. He emphasised that they (businessmen and investors) should look into the possibilities of transfer of modern technology to Pakistan in order to improve manufacturing sector.

The ENI Group President showed interest in exploration of oil and development of gas fields. The Prime Minister told the ENI chief that Pakistan has tremendous potential in oil and gas sector but it need to be properly exploited.

Shaukat Aziz, who was accompanied by Minister for Privatisation and Investment Dr Abdul Hafeez Sheikh in the meetings, informed the visitors about privatisation process in Pakistan.

The CEO of Russo Group, involved in leather business, appreciated the liberal economic policies of Pakistan government and assured that the group would extend full help and assistance to Pakistan in promoting its leather industry through manufacturing of value-added goods.

FAO OFFICIAL MEETS PRIME MINISTER: Prime Minister Shaukat Aziz on Wednesday said he urged Food and Agriculture Organisation (FAO) to provide technical expertise to Pakistan for developing its agriculture sector on modern technology lines. He told this to newsmen while briefing about his engagements after reaching Rome. Shaukat Aziz informed the media about his meeting with the FAO Director General, who had hosted lunch in his honour at the organisation's headquarters.

"I also met the representatives of International Food and Agriculture Development (IFAD) and World Food Programme (WFP) and urged them to provide technical assistance in the agriculture sector on end-to-end basis," Shaukat Aziz said.

Explaining the "end-to-end" the Prime Minister said that he had asked the FAO and IFAD that they should provide technical expertise to Pakistan to develop agriculture sector from the point of sowing crops etc to enhancing their yield, and then value addition in the same.

He said that the representatives of Fiat, the Italian motor company, also met him and were told to expand their tractor factory, Al-Ghazi Tractors, in Pakistan to meet the growing needs in agriculture and construction sector.

"We had also discussed the possibility that if Fiat could set up its parts manufacturing plant in Pakistan," the Prime Minister said.

Copyright Business Recorder, 2005


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