Local pharmaceutical companies such as Beximco, Acme and Square have already started opening plants in Pakistan, said an official of Pakistan high commission here yesterday.

Beximco has a plant in Lahore and Acme in Karachi according to the official. Local Hameem group is planning to establish a textile and also a ceramics factory in Pakistan.

A delegation of top business leaders from Pakistan is coming to Dhaka soon to negotiate about establishing textile factories in Bangladesh, according to a local business leader.

On the other hand, Pakistan has taken a number of initiatives to boost its foreign investment from Bangladesh, said Roubina Toufiq Shah, commercial secretary of Pakistan High Commission to Bangladesh.

The new scheme aims at investment and promoting transfer of technology, modern plant and equipment, according to the Pakistan High Commission sources.

The government of Pakistan has launched a scheme to encourage investment and joint ventures in several sectors in Pakistan that can be sustainable in the country with easy availability of raw materials, skilled labour and highly developed infrastructure for production and exports.

Pakistan took an initiative during last three years to improve its competitive position and boost investment in the country. Accordingly, import duties on industrial raw materials were reduced in consultation with stakeholders of various industrial sectors to 5 percent or 10 percent.

Schemes under the National Policy Initiatives, include establishment of textile cities in Karachi, Lahore and Faislabad, garments cities in big industrial cities such as Karachi and Lahore with complete infrastructure required for export, cluster development centres for leather, cutlery, jewellery, and Export Processing Zones in Karachi with an attractive investment policy.

Export Promotion Bureau of Pakistan is offering financial assistance to help joint ventures and new investments. It is also maintaining a list of Pakistani businesses that seek joint venture partnerships in the areas of textiles, leather and leather goods, hotel, tourism, steel, engineering, pharmaceuticals, food processing and fisheries.

"Pakistan is especially focusing on reducing the cost of doing business, rationalising the regulatory framework, providing necessary infrastructure and promoting an enabling business-friendly climate in the country," Roubina Taufiq Shah told the news agency.

She said, "Continuity, consistency and connectivity are the prerequisites for a stable policy environment. This has made a positive impact on the current account balance of the country, opening up of foreign investment and increased FDI, with foreign exchange reserves exceeding US$ 12 billion."