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Pakistan now investor-friendly country: Hubco chief

KARACHI (April 09 2003) : The Chief Executive of Hubco Power Company, Vince Harris, has said that at present Pakistan is a country well-balanced for foreign investment.

He made these remarks after attending a meeting at the Governor House here. The meeting was chaired by President Pervez Musharraf and Harris was the only foreign head of a business concern representing foreign investors.

He said, “Environment for foreign investment in Pakistan is more favourable than ever before. Independent power producers (IPPs) are working successfully besides playing an important role in the power sector that is adding to Pakistan's progress. The present government and the IPPs are enjoying excellent relationship.”

He said that the stock market was faring well as all fundamentals were showing positive trend and there was still more room for further improvement in the market. There was also remarkable improvement in the law and order situation.

Harris appreciated President Pervez Musharraf for bold economic policies, and added that all credit goes to him for improved governance in the country.

He said, “We are hopeful that overall condition in Pakistan will remain investor-friendly and foreign investors will be urged to invest in Pakistan.”

Harris said that Hubco is the largest power project listed on the stock exchange.

Pakistan was lacking foreign investment, which has now improved considerably during the last three years. Hubco is very popular among village population due to its activities in health, education and environmental fields.

The people also appreciate Hubco for energising the villages of Hub and Lasbella.

Harris is also Chairman of Pakistan-Britain Business Advisory Group, set up last year following the visit of British Prime Minister Tony Blair to Pakistan.

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