The Expo-2005, the mega event showcasing the goods
manufactured in Pakistan brought a windfall business for the
tourist-starved hotel industry in Karachi as well as rest of the
country as the delegates would be taken around major cities of the
All the major hotels of Karachi including Pearl
Continental, Sheraton, Marriot, Avari Towers and Regent Crown Plaza,
Beach Luxury besides major clubs and government guest houses were
fully occupied by the visiting guests.
Since room occupancy in all the hotels was fully
utilized, the hotel managements took advantage of the situation by
increasing the room charges exorbitantly, it is learnt.
One of the significant outcomes of the exhibition
is likely to be promotion of Made-in-Pakistan label, which was still
missing on the goods produced in Pakistan. Though certain goods
especially the textiles, garments, bed linen, leather and leather
made-ups, surgery and sports goods besides a variety of food and
agriculture items and other non-traditional items have carved a
respectable place in the world market yet the culture of
Made-in-Pakistan label was still missing on our products.
Though some of our products are much popular in the
export market yet they are being sold either without identifying name
of the country of origin or with the label of popular brand names of
Such events where a large number of buyers had also
visited probably help in introducing the name of the manufacturing
country as well as ultimately help increase the price level of
Pakistani goods in the international market.
Besides growth in exports, the introduction of
Made-in-Pakistan label will be the most significant outcome of the
Expo-2005 which was visited by trade delegations from over 77
countries and the representatives of trade and industry. The
exhibition was held last week in Karachi.
This significant event has also provided
opportunity to the trade and industry representatives to have a
one-to-one interaction which obviously help promoting trade relations
with the visiting countries. A number of agreements and MoUs were also
signed especially in different spheres of trade and industry which are
expected to produce results in the days to come.
President General Pervez Musharraf, who inaugurated
the mega event of Expo-2005, the largest industrial exhibition
organized in Pakistan so far has expressed the hope that Pakistan was
destined to emerge as the hub of trade and economic activities in the
The exhibition, which was attended by the
representatives from 77 countries, was in fact a glimpse of the
economic growth and achievements during recent years in Pakistan. The
President said that Pakistan's geo-strategic location, consistency in
its policies, and efforts to develop a strong infrastructure
especially in the communication sector would turn the country into a
centre of business activity. He invited the foreign delegates at the
Expo-2005 to look at Pakistan in the perspective of its key
geo-strategic location as the regional hub due to its advantageous
location which provides a corridor to the huge market of Central Asian
States, the Gulf, The Western parts of China and South Asia.
The President expressed the hope that the historic
event of Expo-2005 would help dispel the misperception about Pakistan
and project the ground realities and its economic potential to the
rest of the world. Pakistan was on the forefront in fighting against
terrorism and the government was striving for a societal
transformation so that the vast majority might get voice and contain
the handful of the extremist minority.
The economic turnaround in Pakistan and a string of
internationally acknowledged achievements clearly established that
Pakistan had awakened and was an emerging economy and a dynamic
country. Pakistan held out great promise for investors as it offered a
conductive environment, where investment enjoyed legal protection and
foreign entrepreneurs enjoy a level playing field with a plus point of
talented but inexpensive workforce.
Pakistan was well prepared to achieve a growth rate
of 7.5 per cent during current financial year, the President said and
added that the country offers a double digit rate of return on
investment which can even go up to 50 percent. This can be described
as the best rate of return on investment anywhere in the world while
the history shows that the foreign investment was never harmed in
Pakistan even in the days when the theory of nationalization was
introduced in 70s even at that stage no foreign investment was either
taken over or nationalized. Terrorism was not a problem in any part of
the country including Karachi, Lahore, Faisalabad and Gujranwala, in
fact these are the places where business takes place and flourishing.
Pakistan had been able to break the back of extremism and terrorism,
"let me assure you with full confidence that your investment will
be secure in Pakistan. Pakistan enjoys a stable economy today', the
President said with a sense of confidence.