KARACHI: The president of Korangi Association of Trade and Industry (KATI), Johar Qandhari, on Thursday expressed deep concern over the recent 21 percent decline in foreign direct investment (FDI) in Pakistan, and urged the government to take urgent steps to improve the business climate.
Qandhari said that political stability, lower energy costs, and reduced production expenses were imperative for economic development, and called for a conducive environment to attract foreign investors.
He stressed the importance of exploring new opportunities beyond existing friendly relations with China, Saudi Arabia, and the United Arab Emirates, which have been the main sources of FDI in Pakistan.
KATI chied also raised concerns about the shifting policies within the country, which he said had disillusioned existing investors who were now considering withdrawing their investments. He urged the government to collaborate with stakeholders and formulate a comprehensive, long-term policy that includes incentives and facilities to create an attractive environment for foreign direct investment.