Pak economic reality much better than misperceptions: President
Says country set on strategic direction - Assure protection to foreign investment
Staff Report

ISLAMABAD—Assuring full protection and facilitation to international investment, President General Pervez Musharraf Saturday said high growth and friendly policies make Pakistan an ideal destinationfor world entrepreneurs and stressed that the country’s economic reality is far better than “distorted perceptions.”
In a key-note address to OPEN Silicon Valley’s annual business moot in California through video conference, President Musharraf also stated that the country is shaping up through construction of Gwadar port and a network of infrastructure to serve as trade and energy corridor for land-locked Central Asia, South Asia, the Gulf region and China. “Pakistan today is in an altogether different league economically - it has been put firmly on path of high economic growth with its GDP having more than doubled to US dollars 135 billion and all macro economic indicators including exports, revenue collection, foreign investment, forex reserves staying positive,” he said.
He rejected negative travel advisories issued against Pakistan and added that these did not reflect prevailing ground realities. “I think we suffer from distorted perceptions - but in reality we are much better as evident from the fact that none of the foreign companies doing business in Pakistan has ever been harmed due to policies or internal situation,” he emphasized to a gathering of American and Pakistani entrepreneurs at OPEN 2006 moot. President Musharraf said the government is striving to improve the image of Pakistan but also urged the Pakistani expatriates to contribute to these efforts through personal example and effective countering of misperceptions about the country.
In the widely applauded address, the President referred to an international report that described Information Technology progress as Pakistan’s best kept secret and said the country offered a host of opportunities in fast-developing sectors. “We have put in place an elaborate IT infrastructure, connected cities and towns to the Internet and three submarine cables are to further enrich the IT scenario - on top of it, we have talented English speaking graduates, which are an asset for the country and international investors.” SANA Adds: President General Pervez Musharraf has said that Pakistan has been set on strategic direction with emphasis on deregulation, liberalization and privatization making it an ideal destination for foreign entrepreneurs.