ICCI invites Turkish investors to marble, granite sector

Islamabad's resident, Islamabad Chamber of Commerce and Industry (ICCI) Mian Shaukat Masud has invited Turkish investors to invest in Pakistan's marble and granite sector, which offers great potential for foreign investors.

Pakistan's marble is of excellent quality and its products can compete with any other county's products, Masud said while exchanging views with a four-member delegation of Turkish businessmen who called on him at ICCI to discuss the possibilities of investment potential in Pakistan's marble and granite sector here on Monday.

The ICCI president informed the delegation members that Pakistan had rich reserves of marble and granite, which spread from Karachi to Siachen, and the country could earn huge foreign exchange through its export if exploited effectively. He said our marble and granite sector had the potential to play a vital role in national economy through export of raw material and value added products as well.

He informed them that the Government of Pakistan was also determined to provide more facilities to the marble and granite sector businessmen and invited them to take advantage of these incentives by investing in marble and granite sector in Pakistan.

Masud said marble sector export stood at $25.8 million during July-March 2009 as compared to $16.55 million in same period last year, registering an increase of around $9.25 million, which shows its healthy growth potential.

He informed the delegation members that according to estimates, there were 160.2 million tons of marble reserves in the country out of which 98% were in NWFP.

Granite reserves, only at one place in Northern areas showed a total of 414 million tons while other reserves of granite were spread all over NWFP, Balochistan and Sindh.

He said Saudia Arabia was going to invest around $260 billion in its new cities by year-end and they were interested in Pakistan's fine marble. Export to Dubai and other Middle East countries including Saudi Arab increased manifold during last three months. All these figures showed great investment potential in Pakistan's marble and granite sector.

On the occasion, Turkish delegation members said friendship between Turkey and Pakistan derives its strength from the bonds of brotherhood. This traditional, deep rooted brother-hood is the greatest asset of the two countries.

They said the aim of their visit to ICCI was to explore the possibilities of investment potential in Pakistan's marble and granite sector.