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'German cos keen to invest in Pakistan'

RECORDER REPORT

KARACHI: German Consul General, Ingmar Brentle has said that German companies are keen to make investment in Pakistan provided disincentives and hindrances are expeditiously removed by the government of Pakistan.

Speaking at a luncheon meeting held by the Korangi Association of Trade and Industry (Kati), he said Pakistan and Germany had already signed a bilateral agreement in August, 1998 on financial cooperation committing DM-47 million (around Rs 1.6 billion) for four major projects, including Kot Addu thermal power station, integrated waste disposal system, Quetta Children's hospital, supply of drinking water in the Northern Areas and Chitral district, etc.

Germany is also interested in setting up a bilateral chamber of commerce and industry in Pakistan to further strengthen the existing trade relations with Pakistan.

Kati Chief, Shaikh Manzar Alam, earlier gave a brief introduction of Korangi industrial area where most of the industries were export-oriented.