Sweden intends to invest $300 mn in Pakistan

KARACHI: The Swedish government intends to have investment of dollars 300 million in Pakistan.

This was stated by the Swedish Trade Minister, Ms. Ewa Bjorling, on Wednesday, says an official statement.

She was leading a high level 29-member trade delegation of Sweden which held a meeting with team of Sindh Government at the Chief Minister House here.

The Sindh Government team included Advisor to C.M. for Information, Ms Sharmila Faruqui, provincial secretaries of Irrigation and Power, Live-stock and Fisheries, and Planning and the Secretary to Sindh Chief Minister.

Sweden's Minister of Trade thanked the Sindh Government for the warm welcome of delegation and said that her delegation is on visit of Pakistan for exploring the possibilities of investment.

She said that the Government of Sweden intends to have investment of $300 million in Pakistan.

Ms. Ewa Bjorling, said that her country wants to participate in projects of energy sector particularly the solar and wind energy, losses of transmission lines, education, particularly the technical education, tourism, industries, agriculture, public- private partnership, livestock, fisheries sectors.

Sweden's Minister for Trade further informed that the delegation comprised 700 various companies participating in Stockholm Chambers of Commerce, Swedish Trade Council, Atlas Copco Rock Drills AB, Export& Trade SAAB AB, Swedish Export Credits Guarantee Board, Ericsson, Solarwave, Jonkoping Business School, Shanbka, Swedfund and others.

She stressed the need of coordination and collaboration in all fields and said that Swedish team will further meet after one month and necessary matters will be discussed to finalise the further process.

Earlier, Sindh Finance Minister Syed Murad Ali Shah welcomed the Swedish Trade delegation and briefed them about socio-economic situation of Sindh province.

He said that the economy of Sindh province depends on agriculture and majority of population lives in rural areas.

Syed Murad Ali Shah further informed that the urban areas had entered in industrial sector with the result there is rapid growth of industries.

He added that there is problem of energy and power, for which the government has initiated scheme of Thar Coal and energy project where many investors have come forward and work has been started.

He further said that gasification and power generation is expected upto March 2011. Secretary (Planning) Ms. Naheed Shah Durrani also briefed the delegation about various projects and said that the provincial government will extend guarantee and will provide land for projects.

She said that government is also encouraging investments in various sectors.

She said that except Karachi, the remaining areas are lacking the development for which there is need of development, including in remote areas.

She said that there is scope of furtherance in the field of education particularly in Technical Education.

The meeting was also addressed by participants of Trade delegation of Sweden including Minister for Trade Ms Ewa Bjorling, State Secretary for Trade Gunnar Oom, Ambassador, Embassy of Sweden Ulrika Sundberg, Political Advisor, Ministry of Foreign Affairs Gustave Anisson.