LAHORE:The political and economic stability, continuity in economic policies and improvement in security conditions are necessary to attract foreign investors in Pakistan. Currently, foreign investment in Pakistan is below par the expectations and local businesses are also worried about the situation in the country.
These views were expressed by the discussants in Jang Economic Session on ‘How conducive and balance environment created for local and foreign investment in Pakistan?’ The panelists were Falahat Imran, Fahim-ur-Rehman Saigol, Khalique Arshaq, Rehana Syed Hashmi while the session was moderated by Sikindar Lodhi.
Speaking at the session, Falahat Imran said that it was heartening to see the politicians of Dubai and other countries working for the people of their country. We have to work on our image building at global level. Pakistani products are being sold with other countries’ branding in the global market. There is a need to improve the country’s image and political environment within the country. For this purpose, the politicians and bureaucrats should sit together and work for this noble cause with mutual consultation.
Expressing his views, Fahim-ur-Rehman Saigol said there is no policy and environment for investment in the country. Pakistani cost of production is the highest in the region, which plays a major role in discouraging the investment. Our authorities should take effective measures to attract the overseas Pakistanis and other investors, he added.
He further said that Pakistan has been blessed with a large of pool of youth, which is no less than a blessing. We should give modern technical education to our children so that they can play a constructive role in the development of the country, he opined.
Khalique Arshaq said that the issue of the investment is not a new one in our country. It has been there since the beginning. Investors always prefer politically and economically stable countries for investment. Pakistan authorities must improve their tax system, policies, security and rule of law in the country to attract foreign investors, he added.
He further said that there is need to expand the tax base, create job opportunities, bring down the land prices and establish continuity in policies. The banking system of the country also needs to be reformed to improve the country’s image globally, he maintained.
While speaking at the session, Rehana Syed Hashmi said that country is going through the most critical period and war-like situation. There is need of strategic planning to rectify the reasons for repeated failures and make adjustment plans accordingly, she said.
Rehana Syed Hashmi said that there is lack of implementation and consistency in the policies in our country. Every stakeholder should be taken on board in the process of policymaking, she opined.