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Pakistan provides ideal investment environment: Musharraf
ISLAMABAD: President General Pervez Musharraf on Thursday said Pakistan provided an ideal environment for investment and reiterated that it would be sustained to alleviate poverty through greater economic activity.
He was addressing a gathering after the earth-breaking of Pakistan's first seven-star US 350 million dollar hotel project - "The Centaurus".
The 3-year project is being executed by the Pak Gulf Construction Pvt Ltd (PGCL) Company, using the services of Messrs Atkins known in the construction world for its Burj-al-Arab project in Dubai.
The President inviting the investors from across the world to Pakistan said "it is the right time to invest in Pakistan ... and the economic environment will be sustained, creating jobs, alleviating poverty."
Musharraf said Pakistan was pursuing a liberal foreign exchange regime with no limitation on remittances and provides a level playing field for foreign and local investors.
"We have opened all sectors of economy for investment and the scourge of red-tapism and bureaucratic delays are being done away with."
The President warned he would not tolerate any bottlenecks in the way of investment.
Courtesy Geo