FUND VIEW-Pakistan fund eyes growth despite violence: Reuters

By Peter Apps

LONDON, June 6 (Reuters) - Political uncertainty, occasional bomb blasts and border militant insurgency do not stop Pakistan being a good investment destination, one of the first funds to target the country says, comparing the economy to a smaller India.

The Melchior Selected Trust Pakistan Opportunities Fund, launching this month and aimed at ultimately reaching some $200 million in Pakistani equities, says the country has been poorly portrayed and its economic fundamentals remain appealing.

"We believe Pakistan has been treated unfairly by the international media," David Graham, partner of fund manager Dalton Strategic Partnership.

Pakistan's immediate political future remains uncertain after parties supporting President Pervez Musharraf were defeated in an election while Al-Qaeda this week claimed responsibility for Monday's suicide car bomb attack on the Danish Embassy in Islamabad that killed six people.

"In looking at the Pakistan market, we see many similarities with India," Graham said, noting Pakistan had been described as "India at half the price".

Along with China, India has attracted vast fund volumes from emerging investors in recent years.

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Pakistan to provide new routes for Beijing Olympic extra-flights: China View

ISLAMABAD, May 8 (Xinhua) -- Pakistan will open new air routes for additional flights to China during the Beijing Olympics, the Geo Channel reported in its website on Thursday.

The report cited civil aviation chief Faruque Rahmatullah as saying that the new air routes for additional flights will help save fuels and add more air traffics to China.

Rahmatullah, director-general of Pakistan Civil Aviation Authority (CAA), said that the flights coming from Europe and Gulf countries could save half an hour in their journey to Beijing through new route.

He said a new aviation policy has been sent to the Prime Minister Yousaf Raza Gilani for his approval, which envisages taking aviation industry share in GDP to one percent in the next four years.

Feeder airports would be constructed in collaboration with the private sector for the growth of industry and air service to far-flung areas, said Rahmatullah, adding that the hotels and other trading constructions in Karachi would be undertaken on a sprawling plot of 1500 acres, which is expected to fetch investments amounting to 3 billion U.S. dollars.

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