RAWALPINDI: Dr. Matthias Schmitt, leader of the visiting delegation of West German bankers and industrialists, said here today [Nov 11] that an investment of 10 to 20 million Deutsche Marks was in the process of being made in Pakistan.

He told a Press conference that the projects in which this investment will be made were in differentstages ofpreparadon.

The private West German investment in Pakistan so f ar totals 30 million marks.

He summed up the discussions the group had with President Ayub Khan this morning, and with the Ministers and officials in Karachi and Rawalpindi.

Dr. Schmitt said the present delegation, comprising about 20 representatives of industry, banking, trade and consultants, was on a factfinding, goodwill and exploratory mission. The group also represents four German organisations Federation of German Industry, Association of Wholesale Traders, Association of German Bankers, and the German Chambers of Commerce. These four bodies had formed together a working committee for developing countries, which acts as an advisory body to the Federal German Government.

The delegation aimed at gathering information on development and progress made by Pakistan and the development targets set in various plans, he added. It was also collecting information on the possibility of ties of foreign private investment in this country.

The mission was looking for possibility of promoting trade and expanding exports from Pakistan to West Germany, and was exploring the fields in which future economic co-operation could take place.

Asked about the difficulties the foreign investors feel in Pakistan, the delegation leader said some of the plants already set up in Pakistan f ace a shortage of raw materials, spares and intermediate products due to import restrictions; as a result these plants were working below capacity.

Dr Schmitt said, `The investment climate in Pakistan is very good, and you have political stability, which is very important and favours foreign private investment`. Agencies