The minister agreed that foreign investors were shy to invest in Pakistan because of law and order situation. However, the Expo Pakistan would definitely change the mindset of foreign investors as they visit the country and look into the ground realities, he added. - File photo

KARACHI: Commerce Minister Makhdoom Amin Fahim said on Thursday that the objective of holding Expo Pakistan was not only to attract foreign investment and buyers but also to promote soft image of the country.

Talking to media after opening the 6th Expo Pakistan at the Karachi Expo Centre he said that the 4-day exhibition will provide opportunity to 600 foreign guests from 52 countries to have first hand information about Pakistan.

Undoubtedly, he said that the main objective of any trade fair is to showcase products and services a country can offer but it equally provides opportunity to foreign visitors to see ground realities, which are some times wrongly portrayed.

He said the expo will provide an opportunity to foreign investors to meet their local counterparts to look into joint ventures and place orders for products, which could be easily supplied from Pakistan at competitive price.

The minister was accompanied by Secretary Commerce Zafar Mahmood, TDAP chief executive Tariq Puri and FPCCI president Haji Ghulam Ali.

Amin Fahim said even during the difficult times the country during the last fiscal year managed to make record exports at $25 billion against a target of $22 billion.

He said this indicates that “our exporters are capable of facing global challenges.”

Responding to a question the minister said that export target for the current fiscal will be set after getting due approval from the Economic Coordination Committee (ECC).

However, he said during the last fiscal exports registered 28 per cent growth and in first quarter of this year the growth is at 16 per cent, which is highly encouraging.

Answering another question, he said that the government was trying hard to overcome power and gas shortages and the work is in advance stage on Pak-Iran gas pipeline and hopefully Pakistan will also get power supplies from Iran to meet short-term power shortage.

The minister said that a big Indian trade delegation is soon visiting Pakistan and commerce secretaries of both the countries are also expected to meet in New Delhi in February next year. Makhdoom Amin Fahim in response to a question said undoubtedly, many foreign guests’ traveling and boarding and lodging expenses have been met by the government but it is always said that “to make money you have to spent money”.

The minister agreed that foreign investors were shy to invest in Pakistan because of law and order situation. However, the Expo Pakistan would definitely change the mindset of foreign investors as they visit the country and look into the ground realities, he added.

FPCCI president Senator Haji Ghulam Ali talking to media said that the government had failed to control price hike which left people in extremely difficult times.

He warned that if the government did not check the prices of essential goods it might be swept under its pressure.

The FPCCI president said fresh increase in power tariff was a strong indicator that the government plans to approach IMF for fresh loans.

He advised the government to cut its expenses rather than putting burden on masses and seeking fresh IMF assistance.