Paris, July 03: Pakistani President Pervez Musharraf sought today to woo French business leaders here, touting his country's tame inflation, its anti-corruption efforts and its anti-terrorism commitment.
Budget deficit was held to 4.5 per cent of
output and inflation was limited to 3.3 per cent, according to
Musharraf.
The Karachi exchange last year was the world's best
performing stock market, posting a gain of 112 per cent. So
far in 2003 the exchange is up 16 per cent.
Musharraf also pointed to a favorable climate for
foreign investors, noting that borrowing charges have been
reduced to less than eight percent from 15 per cent, tax- and
duty-free zones are being created, labour costs are low and
law and order has been secured.
He sought to reassure French investors that his
government was waging a vigorous campaign to stamp out
terrorism. A suicide bomber killed 11 French naval technicians
and three Pakistanis and injured 12 people in an attack in
Karachi in May 2002.
Bureau Report
