‘The construction sector activities in Pakistan are growing at a pace Karachi, Lahore, Rawalpindi, Islamabad and other parts of the country which requires a lot of investment in the sector’, he told APP in a panel interview here on Friday.

Salman said that government is also initiating low cost housing projects for overcoming shortage of housing in the country.

He added that Foreign investment is rising and workers remittances have also increased due to prudent economic policies of the government.

Salman Shah said that consistency and continuity of economic policies and investment-friendly policies bring pursued by the government during the past six years have restored the confidence of investors.

They are now keen to invest in various sectors of the economy.” Dr. Shah said that 150-200 investors will attend the Overseas Pakistanis Investment Conference (OPIC) here from March 5. “The conference will bring more foreign investors and joint ventures in the country,” he added.

He said that all sectors of the economy, including agriculture, are performing well and expressed the hope that Pakistan’s GDP would cross 7 percent during the current financial year.

He added that financial sector investors are also taking keen interest in establishing Banks and expansion of their network in Pakistan.

Citing examples, he said that Standard Chartered Bank has purchased Union Bank adding said that this is a long term investment which would benefit the country in the long run. Tamasec of Singapore investment company is also buying a bank, he added.

He said that private sector is participating in the privatisation programme of the country and making investments in large industries in the country.

Shah said that EMAAR Group and NAKEL group are also investing a huge amount in the country’s construction sector.

Shah said one of the best companies in the world has shown interest in the purchase of Pakistan State Oil (PSO) company.

There is no shortage of capital for investment in the country and Dr Shah expressed the hope that huge investments would lead to further socio economic prosperity.

He said if Pakistan sustains its GDP growth at 7-8 percent, maintains consistency and continuity in the economic policies and invest more on the human capital there is no reason why Pakistan cannot progress like China and east Asian Countries.

He said that few years back the foreign investment in Pakistan was only US $ 250 million and today it has reached to US $ 6 billion.

Dr. Salman Shah said it is firm commitment of the government to reduce inflation as it is affecting the masses specially the poor segment of the society.

He added that government is focusing on pro-poor economic policies adding said that core inflation has reduced to 5.5 percent and food inflation is around 8 percent.

He said that government is also concentrating on the development of agriculture sector in the country.

He regretted that after Tarbela dam no major reservoir was built in the country.

“Had we built more such dams in the past, Pakistan would have produced food which was enough for its own needs and also for export,” he said.

Salman said that Pakistan has advantage of being rich in water resources adding that Kalabagh dam would benefit Sindh province the most.

He added that Pakistan will attract over $6 billion during the current financial year and expatriates remittances have also registered 25 percent growth in the seven months of the current financial year.

Shah said that government has announced establishment of a special economic zone at Kala shah kaku (Punjab) covering an areas of 3000 acres for Chinese investors and their joint ventures.

The Advisor to the prime minister said that the government under a comprehensive plan is establishing special industrial parks, and business centres for industrialisation of the country.

Talking about government’s efforts for the development of National Trade Corridor, he said this would be a major strategic initiative to improve logistics chain throughout the country adding said that through provision of road infrastructure from Karachi-Khunjerab via KKH and Karachi to Gwadar ports would be modernised according to international standards to reduce cost of transportation.

He added through this project Pakistan would be able to save US $ 7 billion per annum.

He termed NTC programme as one of the biggest infrastructure development programme in the country’s history adding that this would greatly benefit the people and improve their quality of life beside creating more job opportunities for them and also play an important role in the socio economic development.

Salman said that in Public sector Development Programme (PSDP) for the year 2006-07, the government has allocated Rs.435 billion adding apart from it the Higher Education Commission (HEC) would establish ten engineering universities in the country.

He added government has also decided to bring improvement and quality in education system and a huge amount is being spent on human resource development sector.

Shah said for skill development of the young generation and creating employment opportunities for educated youth, under the special directives of prime minister Shaukat Aziz and comprehensive training programme called National Vocational and Technical Education Commission (NAVTEC) has already been launched.

He said there is shortage of skilled manpower with tremendous opportunities in various sectors including construction sector.

He added that under the programme short courses and long term technical courses would be provided and skill training to create employment opportunities within the country and abroad to at least one million people in next two years.

He said these persons will be given training in the fields of electrician, livestock, health, domestic appliances, construction, food preparation, domestic services, paramedics, beauty and health, livestock, agriculture and services sectors.

Shah said that President and Prime Minister have directed Central Board of Revenue (CBR) to take steps for the collection of more revenue to meet social sector development and infrastructure requirements for socio economic development and improving quality of life of the people by providing them maximum opportunities in the development process.

Shah said that development of health, education and infrastructure sectors are top most priorities of the government adding that more funds would be allocated to these sectors in the forthcoming budget.

He added that government is also focusing on improving the law and order situation so that these could not be a hurdle in the way of country’s economic progress.